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    WED. NIGHT NEWS

    Post by Admin on Fri Oct 11, 2013 11:56 pm

    Maliki calls during a meeting with businessmen and traders in the National Business Council to activate the role of the private sector
    02-10-2013 04:13 PM

    Baghdad (news) .. Prime Minister Nuri Kamal al-Maliki, during a meeting in his office official said Wednesday a number of businessmen and traders of Iraqi National Business Council, to activate the role of the private sector. According to a statement of the Office of the Prime Minister, has received the Agency (news) a copy him: that al-Maliki called for activating the role of the private sector, he said: that the state does not rise without the participation of the private sector, hello a greater role for the sector in various areas of work and investment, particularly in the field of electricity, oil and agriculture. said Maliki: convert the Iraqi economy from a central depends on the public sector to a market economy does not need laws and regulations, but also also needs to change in culture and approach that raised him Iraqis, including officials in the state. statement added: that businessmen have a picture of the role of the private sector in various areas of the Iraqi economy, and they said they had entered For the first time in the fields of electricity, oil filter and various industries, but they are still at the beginning of the road, and called on government to assign to activate their role. / End / o. P /

    - See more at: http://www.ikhnews.com/index.php?page=article&id=103238#sthash.mXBINCfj.dpuf


    New Iraqi currency .. Soon

    Image

    CBI seeks to delete three zeros from the Iraqi currency since 2003. A project that raises many concerns on the street level and the business community of Iraq, and it seems economists are divided between supporters of the project see it as an opportunity to reduce the rates of inflation and unemployment, among forewarned of economic shocks may prevail Iraqi market due to implementation of this project.

    The delayed implementation of the project after that enter the central bank, as amended, more than once due to concerns based predominantly to the security situation uncontrolled and open market to foreign goods without restrictions and counterfeit currency circulating in the market in addition to the rampant corruption in the country.

    were Iraqi News Agency Independent quoted Find a member of the Finance Committee in Parliament Abdul Hussein al-Yasiri on the fourth of September / past as saying that the year 2014 will see the deletion of zeros from the Iraqi currency, to be done in coordination with the Central Bank. He explained Yasiri that this project will lead to the reduction of the size of the national currency traded than four billion Iraqi dinars to one billion.

    Meanwhile, the head of the Finance Committee in the House of Representatives Haider al-Abadi for "Almonetor" It is possible to delete the zeros from the current currency, but it has been postponed until after the parliamentary elections, pointing out that studies are now safeguards are in place to reduce fraud, and make sure there trading again currency current.

    was the process of deleting the zeros had been postponed more than once, until demanded the Economic Committee in the House of Representatives, according to reported channel "Oriental" on the seventh of July last year from the central bank, accelerate the process of deletion of zeros from the Iraqi currency is tight in a press conference held that the process of deletion of zeros will increase the value of the Iraqi dinar and will be reflected positively on the issue of reducing the rate of unemployment and poverty in the country.

    , but Chancellor Financial "North Bank" wholesome Elias said in an interview to "Almonetor" The process of deletion of zeros is only an administrative process, and cash equivalent should remain as it is, any that the purchasing power of the new currency should be equal to the old currency. Elias said he must التدوال two currencies both for a period of up to three years old to withdraw gradually from the market. Elias predicted that highlights the unresolved problems if the creditor and the debtor or if they hit any defect in payments and withdrawals. But he ruled that affect the rates of inflation or poverty.

    For his part, Deputy Chairman of the Finance Committee in the Iraqi parliament Ahmed Faizullah for "Almonetor" the view of the wholesome Elias, pointing out that the deletion of zeros will not change the purchasing power of the Iraqi dinar because it is linked sized industrial production and import. He added that what saved the Iraqi dinar is owning the central bank cash reserve of hard currency Osafth the cover have formed the dinar. He called Faizullah to the lack of implementation of the project at this time because it would disrupt the market and Iraqi citizens alike.

    amid those views Director noted Commissioner for "Company breeze north" to trade stocks Inas Mohamed said in an interview to "Almonetor," that the stock market will be the biggest hit of changing the currency and delete the zeros. Still stock sold in dinars, and a thousand dinars currently is worth a thousand shares while will become new dinar one after the deletion of zeros is equal to A shares, which would disrupt the stock market where the movement confused basically due to the security situation in the country.

    * Golden safe researcher and media in the field of economy political and trained in the field of oil and energy journalism. She holds a Ph.D. in "American policy of containment."
    Almonetor

    http://www.iraaqi.com/news.php?id=4768&news=1#.UkwDMIamiSp





    WS .......... Hoorah!!!



    MAILMAN.......... I saw Your post .......... I apologize if You feel I was being emotional ........ But I disagree. Emotions are undisciplined. O is too obvious. O is like M ......... You'll see. Let's just pray for everyone. No government nor health careless........ Not bad two for one. Take care Sir.

    I go to spend the day with ...........WF.

    Aloha.

    KTFA,


    Frank


    A senior U.S. official: Iraq will be the sole leader of the Middle East and Basra city of the 21st century

    Author: SKM
    Editor: AF, RS 02/10/2013 17:30


    Range Press / Basra
    Predicted Inspector General U.S. special affairs reconstruction of Iraq, Stuart Bowen, said Wednesday that Iraq would be "the leader of the region sole", during the coming period, adding that "corruption" is one of the most important challenges facing the country, and among that Washington has tried 90 U.S. citizen on charges of corruption related projects funded by the U.S. government in Iraq, the governor of Basra, acknowledged that Iraq "to corrupt Aahacb".

    The inspector general said the U.S. private affairs of Iraq reconstruction, Stuart Bowen, in a joint press conference with the governor of Basra in the Office of the province, and attended (range Press), "The United States was entrusted to me the task of fighting corruption in the reconstruction of Iraq during the past ten years after spotted a budget estimated at $ 60 billion for the reconstruction of Iraq, "noting that" investigations Attpt and presence of 90 U.S. citizen accused of corruption in Iraq and were tried in the United States. "

    Bowen described the past ten years in Iraq as "the same problems and challenges and corruption," expressing his optimism as "the next ten years in the reconstruction of Iraq, which will be leader Ohadda in the Middle East."

    The Inspector General noted that the U.S. "Basra province of important cities and the development of a program and laws to combat corruption in which to develop," returned them to the "City of the twenty-first century."

    For his part, the governor of Basra said Majed Nasraoui during a joint press conference "to maintain readiness for the use of foreign expertise to fight corruption and cut the road to the corrupt program, especially in the reconstruction of the province and the implementation of construction projects."

    Nasraoui added, "I discussed with the U.S. Inspector Basra strategy for 30 years to come," noting that "the United States is donor countries Hacpt the employees spoilers while we spent the money and did not hold the corrupt accountable, a guide on its success in the fight against corruption."

    Nasraoui pointed out that "the province of Basra formed visual experiences forum, which includes the province of Basra experts to submit their proposals in the field of fight against corruption and how to refer the projects correctly and the closure of the ports on the spoilers for projects in the province."

    Among Nasraoui that "some licenses from companies lagging been withdrawn and refer files to the integrity of the accountability and the denial of access to the project in the province," noting that "the existence of the program is pushing up the level of control and supervision of the assignment of projects and put المعرقلات front spoilers and standard in the assignment of projects is efficiency and quality of work. "

    The province of Basra and directed the investment in the province in April of 2012, the withdrawal of five investment licenses to the reluctance of the winning companies, to fulfill its obligations in accordance with the terms and conditions specified in the contracts signed.

    The MP accused the province of Basra, a member of the Committee of the Regions parliamentary and provincial Mansour al-Tamimi on the eighteenth of last September in the province, officials Bzbbhm wasting public money and the reluctance of service and urban projects calling for hauling lagging project files to the Integrity Commission to hold accountable those responsible for negligence
    The phenomenon of corruption the biggest challenge to the security side, facing the Iraqi governments since the end of the U.S. war on Iraq in 2003, has reached the levels of corruption in Iraq, an end has led international organizations specialized to put it among the countries most corrupt in the world, solving Iraq in 2012, the last in third place in terms of the level of corruption in it.

    The Integrity Commission, announced in (the fourth of February 2013), on the transfer of about six thousand accused of corruption to the competent courts in the past year 2012, indicating that the amount of transactions that took place where corrupt practices exceeded the trillion dinars.

    As studies have confirmed an American recent survey, that Iraq has grown is the largest in the region in imports, due to higher oil production, which is the lifeblood of the local economy, but analysts quoted their studies say that the strong economic growth this was accompanied by improvements in the living conditions and services due to the spread corruption.

    The Integrity Commission, revealed in its annual report, for 2012, the past, and I got (range Press), a copy of it, a lower value on the issues of corruption in the country of about three trillion Iraqi dinars in 2011 to about 133 billion dinars in the year 2012, and confirmed that the total cases referred to the Iraqi judiciary amounted to about 4278, while showed that the number of defendants referred to the courts reached 5980 people, showed that the number of wanted the hit 8696 accused, including 24 ministers or of Bdrjtah been sentenced to 16 of them.

    The newspaper, the Washington Post, said in (the sixth of March 2013), the Inspector General American in charge of the reconstruction program in Iraq, Stuart Bowen, wrote a report, "acknowledged the failure of the program, which began ten years ago at a cost of $ 60 billion."

    The newspaper said in its report that the reconstruction effort, which began the hopes and wide in March of 2003 "is now over in the quagmire of corruption and mismanagement," pointing out that the most noticeable in the report "disappearance thanked the" Iraqi officials after they "praise, albeit cautiously "U.S. aid during the presence of American troops.

    He said that Iraqi officials "to sharply criticize now what they call missed opportunities," pointing to the adoption of senior U.S. officials to "correct some of those criticisms."

    The newspaper quoted a report of the Inspector General, Iraqi Prime Minister Nuri al-Maliki, expressed "gratitude to the U.S. investment in Iraq," but commented that those billions "it was possible to make a big difference, if done well managed."

    The report also included a comment to former finance minister resigned, Rafie al-Issawi, said that the United States had "failed to establish large-scale projects for reconstruction."

    http://www.almadapress.com/ar/news/19114/%D9%85%D8%B3%D8%A4%D9%88%D9%84-%D8%A7%D9%85%D9%8A%D8%B1%D9%83%D9%8A-%D8%B1%D9%81%D9%8A%D8%B9-%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82-%D8%B3%D9%8A%D9%83%D9%88%D9%86-%D8%A7%D9%84%D8%B2%D8%B9



    Calls upon foreign citizens who have information about the property or documents of the State of Kuwait contact the ministry
    Wednesday, October 02, 1 / Okrudolf 2013 17:48

    Image

    [Baghdad where]

    Foreign Ministry called upon honorable citizens who have information about the property or documents belonging to the State of Kuwait contact the ministry in order to bring it back to Kuwait, in implementation of Security Council resolutions.

    A statement from the Oarh Agency has received all of Iraq [where] a copy of it today that "citizens' cooperation with the Ministry, but it is a national action aimed at resolving issues that we inherited by the crimes of the former regime and to enable Iraq to return to normal in the international community."

    The statement said the reward "for those who provide any information about the property and have provided an important service to his homeland." Ended

    http://www.alliraqnews.com/index.php?option=com_content&view=article&id=101634:2013-10-02-14-32-14&catid=41:2011-04-08-17-27-21&Itemid=86


    This is a story that I have already shared with you...Hope you enjoy it again!

    Just Checking In:

    A minister passing through his church in the middle of the day,
    Decided to pause by the altar and see who had come to pray.

    Just then the back door opened, a man came down the aisle,
    The minister frowned as he saw the man hadn't shaved in a while.

    His shirt was kinda shabby and his coat was worn and frayed.
    The man knelt, he bowed his head, then rose and walked away.

    In the days that followed, each noon time...came this chap,
    Each time he knelt just for a moment, a lunch pail in his lap.

    Well, the minister's suspicions grew, with robbery a main fear,
    He decided to stop the man and ask him, "what are you doing here?"

    The old man said, he worked down the road...lunch was a half an hour.
    Lunchtime was his prayer time, for finding faith, strength and power.

    "I stay only moments, see, the factory is so far away;
    As I kneel here talking to the Lord, this is kinda what I say:

    "I just came again to tell you Lord, how happy I have been,
    Since we found each other's friendship and you took away my sin.

    Don't know much of how to pray, but I think about you everyday.
    So, Jesus, this is Jim...just checking in."

    The minister feeling foolish, told Jim that was fine.
    He told the man he was welcome to come and pray anytime.

    "Time to go", Jim smiled, and said "thanks" as he hurried to the door.
    The minister knelt at the altar, he'd never done that before.

    His cold heart melted, warmed with love, and met with Jesus there.
    As the tears flowed, in his heart, he repeated old Jim's prayer:

    "I just came again to tell you Lord, how happy I have been,
    Since we found each other's friendship and you took away my sin.

    Don't know much of how to pray, but I think about you everyday.
    So, Jesus, This is me...just checking in."

    Past noon one day, the minister noticed that old Jim had not come.
    As more days passed with no sign of Jim, he began to worry some.

    At the factory, he asked about him, learning he was ill.
    The hospital staff was worried, but Jim had given them a thrill.

    The week that Jim was with them, he brought changes in the ward.
    His smiles, a joy contagious...changed people, were his reward.

    The head nurse couldn't understand why Jim was so glad,
    When no flowers, calls or cards came, not a visitor he had.

    The minister stayed by Jim's bed, he voiced the nurses's concern.
    No friends came to show they cared, he had nowhere to turn.

    Looking surprised, old Jim spoke up and with a winsome smile...
    "The nurse is wrong, she couldn't know, that in here all the while,

    Everyday at noon...He's here, a dear friend of mine, you see,
    He sits right down, takes my hand, leans over and says to me:

    "I JUST CAME AGAIN TO TELL YOU, JIM,
    HOW HAPPY I HAVE BEEN,
    SINCE WE FOUND THIS WONDERFUL FRIENDSHIP,
    AND I TOOK AWAY YOUR SIN.
    I ALWAYS LOVE TO HEAR YOU PRAY,
    AND I THINK ABOUT YOU EVERDAY,
    AND SO JIM, THIS IS JESUS...CHECKING IN."

    Have A great Day,
    God BLess


    12:02 02/10/2013

    Image


    Water drilling of 63 wells to stop the spread of sand dunes in Karbala



    Baghdad - and babysit - The Ministry of Water Resources, Tuesday, for the drilling of 63 wells to sustain aquatic green belts around the city of Karbala and the non-proliferation of sand dunes at the expense of agricultural land.

    The ministry said in a statement, received news agency public opinion (and babysit) a copy of it, that "the Angels engineering and technical in the General Authority of groundwater of the ministry, has drilled 63 wells in water for the purpose of preventing the spread of sand dunes at the expense of agricultural land in the province of Karbala, in collaboration with Directorate of Agriculture in the province. "

    The ministry added that "the wells allocated to sustain the feeding green belts length of 27 km and a width of 100 m, where the distance between the wells and the last 500 meters to maintain the water level in the wells and the depth of 36-50 m and a diameter of 17.5 - 20 Angie, in addition to checking wells and installation crews pumped if they reach the productivity of the well per 6 - 8 liters per second in addition to the cultivation of plants such as olive and palm and Alioukaleptuz where working كمصدات to install soil if Troy These plants are modern irrigation methods (drip irrigation) 8 rooms have been established on the wells to accommodate operators. "p / h
    http://translate.googleusercontent.com/translate_c?depth=1&hl=en&prev=/search%3Fq%3Dnahrain%26hl%3Den%26client%3Dfirefox-a%26hs%3Dbh9%26rls%3Dorg.mozilla:en-US:official&rurl=translate.google.com&sl=ar&u=http://alrayy.com/93935.htm&usg=ALkJrhiOFmqbNwrq7ldJUiezmc6HdUcmog








    avatar
    Admin
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    FRIDAY NEWS 10/04/13

    Post by Admin on Fri Oct 11, 2013 11:59 pm

    Saad: the law of crude oil refining works to attract investors to the country 04-10-2013 10:32 AM Baghdad (news) .. Confirmed a member of the Oil and Energy Committee MP / National Alliance / Susan Saad, that the law of private investment in the sector filtering oil, would attract investors to work in the field of the filter and limits the import of oil derivatives. said Saad (of the Agency news): that Iraq produced quantities large crude oil, but in return import a lot of oil derivatives, especially kerosene and gasoline, indicating that these derivatives cost the state expenses are so many we need a law oil filter for the establishment of refineries great believes the local need of oil derivatives, and you export as well. said: that the law of private investment in Gaza liquidation oil happened upon disagreements about who the company invested contracted you contracted with the Federal Ministry of Oil or local government or the provincial government. mentions that the Council of Ministers approved during its regular 48, which was held earlier, the draft law on private investment in the oil filter Crude auditor by the State Council. / End / 5.. / - See more at: http://www.ikhnews.com/index.php?page=article&id=103394#sthash.fRJzIcM2.dpuf
    http://www.ikhnews.com/index.php?page=article&id=103394


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    Deputy: Credibility in the implementation of economic laws one of the reasons for the success of the investment in the region 04-10-2013 07:17 AM Baghdad (news) .. A member of the Economic Committee MP / Kurdistan Alliance / Mahma Khalil, said that security and stability and credibility in the implementation of economic laws led to the success of the investment in the Kurdistan region. Khelil said (of the Agency news): that of success factors for investment in the world is security and stability and the application of the laws of economics logistics and infrastructure of the country, noting that the law of investment in the region is one of the best laws in the Middle East through the provision of banking facilities, infrastructure and services, security and stability. said: to delay investment in Baghdad to the lack of credibility in the implementation of the laws and its dependence on routine killer extruder for companies, as well as More difficult to obtain an investment license. / End / 5.. / - See more at: http://www.ikhnews.com/index.php?page=article&id=103386#sthash.Gx96IUZ3.dpuf



    14:52 03/10/2013
    The Ministry of Transport signed a contract with the trade to import (85) Truck
    Image Baghdad - and babysit - The Ministry of Transport, has announced the signing of a contract with the Ministry of Commerce to import 85 truck, stressing that it will receive the first batch of trucks over the next few days.

    The Director-General of the General Company for Land Transport Abbas Omran Musa in a statement received by public opinion, a copy of it, "said the company signed a contract with the General Company for Trade cars and machinery of the Ministry of Commerce for the supply of 85 new truck type Volvo to modernize the company's fleet and support it mechanisms to cope with road traffic."

    "The company will receive the first batch of trucks Model 2013 in the next few days, noting that the contract that was signed is the second trade with cars after the first contract, which was signed late last year."

    He stressed, "said the company is constantly striving to keep abreast of developments in the transport sector through the modernization of the fleet and support it with new loads according to global standards, pointing out that most of the current fleet trucks nearing operational life to an end, as well as its cargo, which is now more than planned in the neighboring countries" ... p / i

    http://translate.google.com/translate?hl=en&sl=ar&tl=en&u=http%3A%2F%2Falrayy.com%2F


    Image
    Mehdi Haji: the next government, a government of national partnership 04-10-2013 09:42 AM Baghdad (news) .. According to MP / coalition of Kurdish blocs / Mehdi Haji, that the next government will be a government of national partnership because the country can not be judged on the unit. said Haji said in a statement (of the Agency news): We hope to hold the elections on schedule enactment of the election law because the old law was appointed by the Federal Court. added: that the next election will produce new political map and the formation of new alliances along the lines of the coalition current, which includes all the ingredients but not most of the blocs participating now. said the Kurdistan Alliance MP to: that Iraq can not be be judged only by a majority of political and participation of all communities religions and components. said شرشاب in an earlier statement (the news): It must be on the political blocs that are attempts serious in order to overcome all the challenges facing the political process, and to reduce the deteriorating security situation in the country, By taking important steps to address these obstacles. / End / 2.'s. m / - See more at: http://www.ikhnews.com/index.php?page=article&id=103388#sthash.fNywl9iS.dpuf
    http://www.ikhnews.com/index.php?page=article&id=103388
    Image
    Kurds to dole out hard cash donations as oil royalties surge

    By Kifah Kareem

    Azzaman, October 3, 2013

    Iraqi Kurdish authorities are considering a plan to hand out hard cash donations of up to $1000 to each family in their autonomous region, said the prime minister of the Kurdish regional government, Nechervan al-Barzani.

    Barzani said Kurdish oil and gas discoveries were on the rise and the development of the newly discovered fields was on its way to bring untold riches to the region.

    The expected surge in income will make it possible for the regional government to hand out donations in hard cash to every single family living in the region, comprising the three northern provinces of Arbil, Sulaimaniya and Dahouk.

    Scores of foreign firms are busy developing oil and gas fields in the region and Turkey is reported to have given the green light to foreign firms to construct pipelines linking Kurdish producing fields to its terminals on the Mediterranean.

    The Kurds say their current output of nearly 200,000 barrels a day will shoot to one million barrels by 2015.

    The Kurds have two routes to ship their oil to international markets.

    They can either use the current twin pipeline owned by the central government in Baghdad or rely on the pipelines they are going to build to link their oil fields with export terminals in Turkey.

    The Kurds currently receive 17% of the hard cash the government in Baghdad earns from oil exports estimated at about 2.5 million barrels a day.

    But it is not clear whether they have solved their differences with Baghdad over who should control the royalties emanating from the export of oil produced in their region.

    http://www.azzaman.com/english/?p=990


    World Bank calls on Iraq equitable distribution of wealth in the country

    Image

    Ahmed Al-Zubaidi
    10/04/2013

    A survey conducted by the Iraqi Ministry of Planning for a significant increase in the proportion of school drop-out, in parallel with recording a marked improvement in the living conditions of citizens compared with the indicators in 2007. at the same time detect and Deputy Minister of Planning Dr. Mahdi Keywords for the high proportion of chronically ill patients to 12% of the total population, is also believed that more than 50% of adults living with diabetes without knowing it. said Keywords that the unemployment rate among those aged 15 years and older was 12%, although this rate up in the Kurdistan region to 8% while the percentage of labor children 2% for the age group 4-14 years. Moreover urged represented by the World Bank in Iraq, Mary Helen Iraqi government on the need to control the low standard of living of the citizens, and the elimination of inequality in the distribution of wealth. confirmed Mary Helen that there are significant differences between the level of household spending Iraqi which negatively impact on education and health. And called on the Iraqi government to the need to improve the labor market as reflected positively on the economic situation of the Iraqi family. This survey covered about 25 thousand families from all of Iraq's provinces, and covered various fields of economic, social and health as well as the ration card and energy.

    http://www.iraqhurr.org/content/article/25126689.html
    Image Image

    http://www.imf.org/external/am/2013/index.htm

    world bank annual meetings Oct 11-13 2013

    Wonder if.....this could be.... :huh?:


    $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

    Just as a fruit tree is expected to bear fruit, God's people should produce a crop of good works.
    God has no use for people who call themselves Christians but do nothing about it.
    We are of no value if we are Christians in name only.
    If others can't see our faith in the way we treat them, we may not be God's people at all.

    God Bless


    Economy supports the non-parliamentary reservation in the calculation of revenue 2014

    Image

    The Commission on Economy and Investment parliamentary calculating the Ministry of Finance of oil revenues in the draft budget law 2014, according to the estimate Average price per barrel to 90 dollars per barrel, stressing that Iraq is not price depends embarrassment or danger, and this price taken according to the data and indicators of the Ministry of Oil and OPEC, the World Bank and the Fund IMF.

    said committee member Abdul-Abbas Xiaa (Center Brief news), said that "Iraq in the budget of 2014 less Thfezamn the rest of the neighboring countries," citing that "those countries have export large as Iraq needs larger amounts because of the capacity of operating expenses and investment."

    He Xiaa, "The country has an abundance of 10 to 15 dollars on the price issue in budget 2014 and this will keep the balance."

    and put the budget in 2014 according to the expectation that up Iraq's exports next year to 3.4 million barrels per day, and this will be the largest in the history of Iraq, It will amount to 174.6 trillion Iraqi dinars, equivalent to 150.1 billion U.S. dollars.

    http://ar.radionawa.com/Detail.aspx?id=78626&LinkID=197



    When I read this it led to thinking Obama is robbing the Civil Service Retirement Fund and swapping US debt for their funds.

    This is very bad news for those relying on Civil Service Retirement!

    American 401K's and IRA could be next?


    quote="concan";p=353437] "Lew said his department was suspending some reinvestments of a government currency exchange fund and would also enter into a debt swap with the Federal Financing Bank and the Civil Service Retirement and Disability Fund. - This is a HUGE "pre-RV" indicator in my opinion! I did not know that they did not have access to the foreign currency reserves in the US and because of this move by Obama any windfall from the Iraqi Dinar revaluation can now be used by the US government where as before yesterday...it was not possible.

    http://phoenixrisingradio.net/[/quote]

    Thank you Millie,

    This cements it...Obama is "borrowing" from Civil Service Retirement Fund...


    Millie wrote on October 3rd, 2013, 7:59 pm:
    Federal Financing Bank

    The Federal Financing Bank (FFB) is a government corporation, created by Congress in 1973 under the general supervision of the Secretary of the Treasury. The FFB was established to centralize and reduce the cost of federal borrowing, as well as federally-assisted borrowing from the public. The FFB was also established to deal with federal budget management issues which occurred when off-budget financing flooded the government securities market with offers of a variety of government-backed securities that were competing with Treasury securities. Today the FFB has statutory authority to purchase any obligation issued, sold, or guaranteed by a federal agency to ensure that fully guaranteed obligations are financed efficiently.
    http://www.treasury.gov/ffb/


    Foreign Press mafias wash their money in the Iraqi market
    - OCTOBER 4, 2013


    Fiddled horse and phosphoric pen and counting devices detect counterfeit currency

    Mohammed Al Salhi - Baghdad

    Varied means of rigging the local currency in spite of the multiplicity of ways disclosed but not all citizens have the means of detection what made them vulnerable to the trading of the currency without the familiar pre-where what killed many of them under penalty of law, while others had to accept the loss and destruction of the currency that occurred under their hands for fear of legal accountability and accusing them of fraud while continuing foreign mafias and counterfeiting Press laundering their money in the Iraqi market.

    Um Riad fish vendor in the market Bab al spoke of (time) with a sigh for her son who was sentenced to ten years of one of the courts of the province of Najaf. She said (and I went to visit the holy shrines in Najaf and did not know that among the money in his possession which he had obtained through his work with me in the sale of fish from one of the customers of three of a ten thousand dinars forged any thirty thousand dinars, and have traded it of been arrested it did not intercede him مسوغاته and was referred to the court and sentenced him to ten years in prison on charges of forgery). Asserting that (the Committee set up by the government to release prisoners not involved with terrorism and promised to release and I have aged 24 years since more than seven months was not known until now). Wondering (Is it possible that someone rigging thirty thousand dinars only). Said saleswoman Other preferred not to be named, said (the movement of labor and competition to win customers not to allow the seller to verify in the currency charged, especially that it bothers customers and makes us نخسرهم). They indicated that (more than once discovered the existence of categories of counterfeit currency, but it was too late meaning they do not know who handed it of forced destroyed for fear of legal liability).

    Forging Press
    He adds Alaa Hussein owner markets to sell food in the area Alaptaoyen (time) that (a lot of counterfeit currency was able detectable by virtue of my experience at work, especially for groups with ten and five thousand dinars, especially after he popularized in the region, the seizure of the police to Press rigging in the region, making the owners shops wary of each leak into the market before the arrest of the gang members and seized large amounts that were not cut any form layers each layer containing dozens of categories that are waiting cutting scissors your Palmtaba). In the city of Kadhimiya, where frequently Goldsmiths Ali al-Husseini says (rigging colorful ways but are not fools to the experience of owners who deal in millions per day). Indicating that (goldsmiths and the owners of banking offices have devices counting the money, which in turn reveal the counterfeit currency across the machine stops working and giving the audio signal indicating the presence of fraud and that applies to the local currency and the dollar as well as a pen-called pen secret Once that indicate where the currency sound gives Writing color phosphoric tends to Saffar But if the currency forged gives Luna black The other way to check the currency is up as tactile experience owners can fake knowledge of the quality of the paper.)

    Husseini warned citizens of (a currency where the horse's head shadow, which many believe that their presence means the integrity of the currency). Explaining that the (image of the horse be less obvious and not mediated allotted place). For his part, said a member of the Parliamentary Integrity Committee Talal Zobaie (time) yesterday that (there are mafias operating from outside Iraq for the counterfeiting of currency and the introduction of adulterated gold in the markets and thus get rid of the domestic economic pressures and finance Amliltha of the market for control). He pointed out (and no direct Iranian involvement in the process to get rid of its economic sanctions imposed on it and through the control of intelligence on counterfeiting gold fraud and market manipulation). According to his opinion. And continued Anamlah fraud and currency trading is an extension of the terrorist and criminal operations and part of currency smuggling and the financing of armed groups that follow some countries to increase its influence in Iraq and النطقة).

    Mafias, money laundering
    Meanwhile, member of the Commission itself Ahmed al-Jubouri (time) that (the forging process is very limited currency is not worth mentioning that this case does not affect the trajectory of the economic process and the collapse of the currency, as some claim). He said. He noted that the (Iraqi currency current printed in printing presses global which is tamper-proof and easy to identify counterfeit currency either for gold I do not think trading the chapel, but through fraud singles among some people), but he also said that (the process of forgery global and there are mafias operating from for money laundering in most countries, visiting and cheats, drug Ttjarh, etc.).

    For its part, confirmed member of the parliamentary Finance Committee Najiba Najib (time) yesterday that he (can not neglect this issue although not discussed within the Commission, but there is a need for follow-up of the executive authorities). While a member of the Committee on the economy and investment parliamentary Salman al-Musawi (time) yesterday that (there are counterfeit currency traded but not up to the level of economic security threat to the country). He said (what is happening from the crimes of counterfeiting and fraud gold is present in most of the world's advanced countries such as the United States and Uribe and that the dollar is more currencies that are exposed to fraud and this game intelligence and criminal carried out by some quarters). Said Moussawi (a device control and standardization qualitative and is responsible for stamping gold is gives you permission to jewelers carry on its business as well as the central bank, which controls the currency and prevent Tzoaha of cooperation with the Ministry Aldalkhalah). Meanwhile, a director of economic crime in the Ministry of Interior Brigadier General Hussein Al Shammari (time) yesterday that (the crime of forgery exist but slightly and ineffective, and there are mafias from inside and outside the country working on fraud and the introduction of the currency and gold). Stressing (no printing presses fraud at home and Most currencies are from abroad and come in the form of a false or $ Banknotes large and spread mostly in nightclubs and popular areas and some commercial areas).

    Al-Shammari said that (there is immunity for the currency through reprinted in the International Press and can not be falsified and can distinguish the currency once you touch or meditate to the original signal). But he also said that (the beginning of counterfeiting in Iraq was after the fall of the regime and steal some presses for printing those currencies such as the Press Mesopotamia and others have been arrested by the security authorities and are now in prison and then was to change the currency above). Was the Minister of Finance Acting Ali Shukri, had confirmed In an earlier statement of (time) that (there is a global mafias you enter counterfeit currency into Iraq across the border, which is witnessing a deterioration in security). He pointed out that (soon to talk about replacing the currency in the previous time introduced counterfeit currency gangs largely to Iraq because of the open borders).

    http://www.azzaman.com/?p=46096


    U.S. NEWSOctober 4, 2013, 12:30 p.m. ET
    Debt Ceiling Creates a Constitutional Conundrum
    President Says He Can't Act, but Legal Scholars See Room for Debate

    By BRENT KENDALL CONNECT
    While the Obama administration says it doesn't have the authority to continue borrowing if Congress fails to raise the debt ceiling later this month, some legal observers say conflicting commands in the Constitution may give the White House room to maneuver.

    Core constitutional provisions provide the starting point for the debate. Congress holds the power to tax, to spend and to borrow. The president, meanwhile, must take care that laws "be faithfully executed."

    To some academics, that latter command could put President Barack Obama in a legal bind if Congress doesn't raise the debt limit. He would still face the obligation to spend money Congress had appropriated, they say, but would also have to obey laws that limit the borrowing and taxes needed to pay for that spending.

    "It's not logically possible" to do both, said George Washington University law professor Neil Buchanan.

    Faced with this conundrum, the "least unconstitutional" option would be for the president to continue borrowing, Mr. Buchanan said. The president would do more damage to the Constitution's separation of powers if he sought to pay the nation's debts by cutting spending on programs Congress had funded or by raising taxes above limits authorized by lawmakers, he said.

    One of the most discussed legal theories for unilateral presidential action involves the 14th Amendment, the post-Civil War measure that guarantees due process and equal protection of the laws. The amendment's lesser-known Section 4 says the "validity of the public debt of the United States…shall not be questioned."

    Former President Bill Clinton and House Minority Leader Nancy Pelosi are among those who have suggested President Obama could invoke that provision to continue government borrowing above the debt ceiling.

    Others, however, take a narrower view, saying the provision clearly was aimed at worries Southern states would balk at paying Civil War-related debts. And they say the provision focuses specifically on the repudiation of U.S. debt, an issue not implicated in the current standoff.

    "A refusal to increase the debt ceiling doesn't go there," said Tulane University law professor Stephen Griffin. Instead, it's Congress saying "we're not going to pay it right now."

    While Mr. Griffin is skeptical of the 14th Amendment theory, he said there was an open question as to whether the president could continue borrowing by claiming general emergency powers under the Constitution, akin to the war powers that President Abraham Lincoln asserted during the Civil War. Under that theory, he said, the president could argue that he needed to "take extraordinary action to keep the country's government from falling apart."

    Ohio State University law professor Peter Shane said there would be significant legal question marks no matter what Mr. Obama does in the event Congress fails to act. "We are certainly without any authoritative precedent," he said.

    The White House has repeatedly said the president doesn't have the authority to act on his own to issue new debt. "Congress is vested that authority under the Constitution," Jason Furman, chairman of the White House Council of Economic Advisers, said Thursday in an interview.

    Furthermore, he said that even if the administration's lawyers interpreted the Constitution differently, it would be impossible to sell government debt under a legal cloud. "You could not have an economically successful auction in an environment like that," Mr. Furman said.

    The bottom line, he said: "There isn't an out here."

    http://online.wsj.com/article/SB10001424052702303492504579115311724310856.html?KEYWORDS=brent+kendall


    That is a new scenario now that we are so close to Oct. 8th. Waiting until the new Treasury notes are at the bank before the GCR makes perfect sense from a logistics stand point. Look at all the potential confusion that is eliminated by not exchanging currencies for FRN's and only being able to exchange for New Treasury Notes. It also eliminates any potential law suits for the banks if they don't explain properly the difference between the two. The consumer is far better off not having FRN's in the first place. Something to think about since we are so close you can feel it.

    lol



    :typing:
    Currency Manipulation: The IMF and WTO
    Jonathan E. Sanford
    Specialist in International Trade and Finance
    January 28, 2011

    Summary

    Congress has been concerned, for many years, with the possible impact that currency
    manipulation has on international trade. The International Monetary Fund (IMF) has jurisdiction
    for exchange rate questions. The World Trade Organization (WTO) is responsible for the rules
    governing international trade. The two organizations approach the issue of “currency
    manipulation” differently. The IMF Articles of Agreement prohibit countries from manipulating
    their currency for the purpose of gaining unfair trade advantage, but the IMF cannot force a
    country to change its exchange rate policies. The WTO has rules against subsidies, but these are
    very narrow and specific and do not seem to encompass currency manipulation. Recently, some
    have argued that an earlier ruling by a WTO dispute resolution panel might be a way that
    currency issues could be included in the WTO prohibition against export subsidies. Congress is
    currently considering legislation to amend U.S. countervailing duty law, based on this precedent,
    that the proponents believe is consistent with WTO rules. Others disagree as to whether the
    previous case is a sufficient precedent.
    :hmmm:
    Several options might be considered for addressing this matter in the future, if policymakers
    deem this a wise course of action. The Articles of Agreement of the IMF or the WTO Agreements
    could be amended in order to make their treatment of currency manipulation more consistent.
    Negotiations might be pursued, on a multilateral as well as a bilateral basis, to resolve currency
    manipulation disputes on a country-by-country basis without changing the IMF or WTO
    treatment of this concern. Some countries might argue that the actions of another violate WTO
    rules and seek a favorable decision by a WTO dispute resolution panel. Finally, the IMF and
    WTO could use their interagency agreement to promote better coordination in their treatment of
    this concern.
    :workout:
    http://www.fas.org/sgp/crs/misc/RS22658.pdf


    That is a new scenario now that we are so close to Oct. 8th. Waiting until the new Treasury notes are at the bank before the GCR makes perfect sense from a logistics stand point. Look at all the potential confusion that is eliminated by not exchanging currencies for FRN's and only being able to exchange for New Treasury Notes. It also eliminates any potential law suits for the banks if they don't explain properly the difference between the two. The consumer is far better off not having FRN's in the first place. Something to think about since we are so close you can feel it.

    lol
    Brought over from previous thread....Interesting..

    Re: FRANK26....7-9-13
    by Eagle1 » July 9th, 2013, 6:57 pm • [Post 16]

    Latest Developments

    Good Afternoon, Family!

    Frank and I will be discussing some of these things tonight on the CC, but here are a few tidbits for you.

    IMF is telling us (and so are people at Chase and WF) that 198 currencies should (and I emphasize, "SHOULD!") go live tonight on FOREX. FOX Business News reported this morning that the FDIC voted this morning to implement Basel III tomorrow, July 10. The news is also reporting that banks that are not compliant may use IQD or other currencies to beef up their asset or capital base in order to become compliant.

    In Bloomberg News, the European Central Bank (ECB) also voted today to begin requiring all European banks to begin compliance procedures tomorrow, and that they must be Basel III compliant by August 1. If they are not compliant by that date, they are required to do a Cyprus-style haircut on their bank bondholders (as opposed to bank depositors like Cyprus did) in order to reach required liquidity levels.

    The U.S. Dollar is part of the 198 currencies expected to go "live" tonight, and is expected to lose up to 50% of its value against many world currencies. I've already suggested to many folks who have the ability to do so to either move their funds into Canadian banks or convert any excess cash into Canadian dollars, since the CAD will increase in value by 10 - 20%.

    Many of the big banks are in the process (and have been) of beefing up their security in preparation for customers coming in for the exchange. Even for us here in the Yakima Valley, although we don't have a large population base comparatively speaking, there are many hundreds of Dinar holders who need a place of exchange, and Wells Fargo has already prepared a separate location in order to accomplish the security issues.

    Once again, it is appropriate to warn everyone that just because we're going to see these massive move all at once with the USD devaluing in the midst of it, this is NOT the end of the unfolding events. We still have the roll-out of the new Treasury-backed USD on or about October 8th, and the news of that event continues to spell out the fact that bank depositors will take a serious hit on the Fed funds they have on deposit.

    This piece of news is not totally confirmed, so take this for the moment as a rumor. Those people who exchange their IQD WILL BE PAID in the new U.S. Treasury-backed dollars. So long as they deposit the proceeds into a non-interest-bearing checking account that has NO Fed funds in it before hand, the monies in that account will be treated as untouchable when the October 8th event takes place. Bear in mind that if you utilize the funds in that account, you may NOT deposit any funds into that account that are not UST backed or the entire balance will be treated as the old Federal Reserve monies.

    Confirmation one way or another of the above should follow before too long, and I will pass it along.

    Blessings on you.

    Eagle1
    Image

    Postby powerofprayer » October 4th, 2013, 1:24 pm • [Post 252]

    Very interesting timing of this event...

    Jamie Dimon Bank Chairman, Jpmorgan, Business News
    .
    (Reuters) - JPMorgan Chase & Co chairman and CEO Jamie Dimon has given up the title of chairman of the company's main bank subsidiary to conform with a new internal policy on multiple roles.

    Dimon has been under regulator scrutiny since the company last year disclosed it was losing billions of dollars on derivatives in what has become known as the "London Whale" trades. At this year's annual meeting, he won a vote of confidence called, in part, because of a breakdown in risk controls.

    Dimon turned over the title of chairman of the deposit-taking unit, JPMorgan Chase Bank, N.A., to a fellow director of the holding company, William Weldon, on July 1, a JPMorgan Chase & Co spokesman said.

    Dimon is now chairman emeritus of the subsidiary, according to a document released on Thursday, which is the public portion of the company's so-called "living will" filed with the Federal Deposit Insurance Corporation and Federal Reserve. Living wills of bank holding companies describe how the companies could be taken apart if they became financially distressed.

    Dimon gave up the title to conform with a new internal policy whereby the holding company's chairman is not also the chairman of a subsidiary, according to the spokesman.

    The change in Dimon's title at the subsidiary was reported earlier on Thursday by the Wall Street Journal.

    JPMorgan recently agreed to pay nearly $1 billion in penalties to regulators for its handling of the derivatives debacle. It is also in negotiations with federal and state officials to settle, for as much as $11 billion, allegations of wrongdoing in its sales of mortgage securities.


    http://www.huffingtonpost.com/2013/10/04/jamie-dimon-bank-chairman_n_4042917.html


    Current FAQs
    Informing the public about the Federal Reserve

    When will the new $100 note begin circulating?


    The redesigned $100 note will begin circulating on October 8, 2013. From that date forward, any commercial bank, savings and loan, or credit union that orders $100 notes from the Federal Reserve will have its order filled with the new $100 note. Location, demand, and the policies of individual financial institutions will determine how quickly redesigned $100 notes reach the public, both in the United States and in international markets.

    Consumers and businesses will not have to trade in older $100 notes for new ones. Older designs of Federal Reserve notes remain legal tender, and will not be recalled, demonetized, or devalued.

    http://www.federalreserve.gov/faqs/currency_12769.htm


    :typing:
    Currency Manipulation: The IMF and WTO
    Jonathan E. Sanford
    Specialist in International Trade and Finance
    January 28, 2011

    Summary

    Congress has been concerned, for many years, with the possible impact that currency
    manipulation has on international trade. The International Monetary Fund (IMF) has jurisdiction
    for exchange rate questions. The World Trade Organization (WTO) is responsible for the rules
    governing international trade. The two organizations approach the issue of “currency
    manipulation” differently. The IMF Articles of Agreement prohibit countries from manipulating
    their currency for the purpose of gaining unfair trade advantage, but the IMF cannot force a
    country to change its exchange rate policies. The WTO has rules against subsidies, but these are
    very narrow and specific and do not seem to encompass currency manipulation. Recently, some
    have argued that an earlier ruling by a WTO dispute resolution panel might be a way that
    currency issues could be included in the WTO prohibition against export subsidies. Congress is
    currently considering legislation to amend U.S. countervailing duty law, based on this precedent,
    that the proponents believe is consistent with WTO rules. Others disagree as to whether the
    previous case is a sufficient precedent.
    :hmmm:
    Several options might be considered for addressing this matter in the future, if policymakers
    deem this a wise course of action. The Articles of Agreement of the IMF or the WTO Agreements
    could be amended in order to make their treatment of currency manipulation more consistent.
    Negotiations might be pursued, on a multilateral as well as a bilateral basis, to resolve currency
    manipulation disputes on a country-by-country basis without changing the IMF or WTO
    treatment of this concern. Some countries might argue that the actions of another violate WTO
    rules and seek a favorable decision by a WTO dispute resolution panel. Finally, the IMF and
    WTO could use their interagency agreement to promote better coordination in their treatment of
    this concern.
    :hrtthrob:
    http://www.fas.org/sgp/crs/misc/RS22658.pdf
    IMO,this makes it appear to me that Iraq/US maybe in control of RV. However, I do not know who is, this stuff is over my head. O maybe still manipulating M, making him wait on paying Kuwait the ten Billion dollars until He/O is ready; so it will make him look good when the RV happens.


    Iraqi visas clear gridlocked Congress


    http://www.politico.com/story/2013/10/iraqi-visas-government-shutdown-update-97798.html?hp=r19

    By DAVID ROGERS | 10/3/13 11:45 AM EDT
    Amid all the rancor, Congress managed Thursday to get one thing done this week: Extending a special visa program for Iraqi civilians who worked for the U.S. during the war –often as translators—and fear for their safety amid the continued violence in that country.



    Read more: http://www.politico.com/story/2013/10/iraqi-visas-government-shutdown-update-97798.html#ixzz2gmO0MrHU


    Believe me, I am no fan of viewing everything through dinar-goggles. I just found out that WF will be open on Columbus Day, though, and that's odd.




    Aloha Friend............ \m/

    Seems God is bringing our Teams some amazing information........... Amen.

    Monday's CC will be long.

    I will bring in many guest.......... Maybe even Delta.

    With sincerity I invite You to come and learn .......... Newness with us.

    KTFA,


    Frank


    Jamie Dimon Steps Down As Chairman Of JPMorgan Chase Banking Unit

    Image
    Reuters | By David Henry
    Posted: 10/04/2013 8:08 am EDT



    (Reuters) - JPMorgan Chase & Co chairman and CEO Jamie Dimon has given up the title of chairman of the company's main bank subsidiary to conform with a new internal policy on multiple roles.

    Dimon has been under regulator scrutiny since the company last year disclosed it was losing billions of dollars on derivatives in what has become known as the "London Whale" trades. At this year's annual meeting, he won a vote of confidence called, in part, because of a breakdown in risk controls.

    Dimon turned over the title of chairman of the deposit-taking unit, JPMorgan Chase Bank, N.A., to a fellow director of the holding company, William Weldon, on July 1, a JPMorgan Chase & Co spokesman said.

    Dimon is now chairman emeritus of the subsidiary, according to a document released on Thursday, which is the public portion of the company's so-called "living will" filed with the Federal Deposit Insurance Corporation and Federal Reserve. Living wills of bank holding companies describe how the companies could be taken apart if they became financially distressed.

    Dimon gave up the title to conform with a new internal policy whereby the holding company's chairman is not also the chairman of a subsidiary, according to the spokesman.

    The change in Dimon's title at the subsidiary was reported earlier on Thursday by the Wall Street Journal.

    JPMorgan recently agreed to pay nearly $1 billion in penalties to regulators for its handling of the derivatives debacle. It is also in negotiations with federal and state officials to settle, for as much as $11 billion, allegations of wrongdoing in its sales of mortgage securities.

    http://www.huffingtonpost.com/2013/10/04/jamie-dimon-bank-chairman_n_4042917.html
    Image
    Iraqi Local Governance Law library

    Most Recent Laws


    5 Oct 2013

    Title Language Jurisdiction Document Type Date Updatedsort icon

    The provisions of the Bankruptcy and Magistrate him condom amended by Order of the Coalition Provisional Authority (dissolved) No. 78 of 2004 (Chapter V of the Trade Act No. 149 of 1970) Arabic Federal Law


    http://www.iraq-lg-law.org/en/tracker_laws


    2013 Annual Meetings Guide to Webcast Events – What’s On?

    Donna Barne's picture
    SUBMITTED BY DONNA BARNE ON TUE, 10/01/2013



    The global economy, climate change, and a new World Bank Group strategy to tackle extreme poverty will be hot topics next week. That’s when nearly 10,000 delegates, journalists and civil society representatives gather at the World Bank-IMF Annual Meetings. But you don’t have to be in Washington to take in 38 World Bank Group events that will be webcast Oct. 8-12. Several will be live-blogged or live-tweeted in multiple languages. You can also follow the conversation on Twitter with #wblive and other hashtags connected to events. We’ve compiled a sampling of events and hashtags below. Check out the full schedule or download the first-ever Annual Meetings app for Apple devices and Android smartphones.



    Tuesday, Oct. 8

    The Economic Case for Climate Action
    Webcast and Live Blog
    11 a.m.-12:15 p.m. ET
    World Bank Group President Jim Yong Kim, IMF Managing Director Christine Lagarde and representatives from government, civil society, and the private sector discuss low-carbon, climate-resilient development.
    In Arabic, English, French and Spanish
    Follow the event live on Twitter with #wblive

    Wednesday, Oct. 9

    The End of Poverty. Really?
    Webcast and Live Blog
    9-10 a.m. ET
    Can the world end extreme poverty in a generation? CNN’s Richard Quest tackles this critical question in a live-streamed interview with World Bank President Jim Yong Kim.
    In Arabic, English, French and Spanish
    Follow the event live on Twitter with #wblive.

    From Poverty to Prosperity
    Webcast
    12-1:30 p.m. ET
    What kinds of policies can boost incomes for the bottom 40% of people? A panel moderated by Financial Times Editor Martin Wolf looks at paths to shared prosperity.
    Follow the event live on Twitter with #wblive

    Inclusion Matters: The Foundation for Shared Prosperity
    Webcast and Live Blog
    2-3 p.m. ET
    This round-table discussion brings together policy makers, activists, academics, and World Bank managers for a discourse about what inclusion means in the context of development, why it matters, and what can we do to achieve it.
    Follow the event live on Twitter with #wblive and #inclusionmatters

    Innovation in Systems: The Art and Science of Change, with President Jim Kim and Dr Atul Gawande
    Webcast
    3:00 p.m. - 4:00 p.m ET
    World Bank Group President Kim and renowned surgeon, thinker and writer Dr. Atul Gawande will share insights on what it takes to drive organizational change and deliver better services to World Bank Group clients and partners. Moderated by USA Today Washington Bureau Chief Susan Page.
    Follow the event live on Twitter with #wblive.


    Thursday, Oct. 10

    2013 Annual Meetings Press Briefing: World Bank Group President Jim Yong Kim
    Webcast
    8:45-9:30 a.m. ET
    In Arabic, English, French and Spanish
    Follow the press briefing live on Twitter with #wblive & #wbatgwu.

    The Rise of the Middle Class and the Service Delivery Gap in Latin America and the Caribbean
    Webcast
    10 a.m.-12 p.m. ET
    This event, organized jointly by the World Bank Group and the global Spanish newspaper El País, brings together heads of state, ministers, and experts to debate the issue.
    In English and Spanish
    Follow the event live on Twitter with #wblive.

    Boosting Shared Prosperity by Getting to Youth Employment Solutions (YES)
    Webcast
    2-3:30 p.m. ET
    How can young people find productive jobs? A panel of experts from the public and private sectors, civil society, and the World Bank Group launch a collaboration and open dialogue on how to fill the gaps in knowledge, tools, and actions for youth employment solutions.
    Follow the event live on Twitter with #wblive.

    Friday, Oct. 11

    Blessing or Curse? Making Earth's Riches Work for Poor and Fragile Countries
    Webcast and Live Blog
    11 a.m.-12:30 p.m. ET
    A high-level panel of industry and transparency experts and representatives of resource-rich nations grapples with the challenges that will define poverty or prosperity.

    Igniting Innovation in Financial Access
    Webcast
    2-3:30 p.m. ET
    World Bank Group President Jim Yong Kim, Queen Máxima of the Netherlands, and banking CEOs discuss how to increase financial inclusion at this event in partnership with the World Economic Forum.

    What Will It Take to Achieve Both Healthy Children and Healthy Economies?
    Webcast
    2:30-4 p.m. ET
    This World Bank-USAID forum brings together senior officials from the Bank and U.S. government and Hans Rosling, Founder of Gapminder Foundation.
    Join the conversation at @worldbankhealth and @USAIDGH or follow #wblive.

    Saturday, Oct. 12

    2013 Annual Meetings Development Committee Press Briefing
    Webcast
    5:30-6:15 p.m. ET
    The World Bank Group Development Committee will address the media at the close of the 2013 Annual Meetings.
    Follow the event live on Twitter with #wblive & #wbatgwu.

    http://blogs.worldbank.org/voices/2013-annual-meetings-guide-webcast-events-what-s?cid=EXT_TWBN_D_EXT
    avatar
    Admin
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    FRIDAY NIGHT NEWS 10/04/2013

    Post by Admin on Sat Oct 12, 2013 12:01 am

    Iraqi embassy in Bucharest assess the festive occasion of the passage of more than half a century of diplomatic relations between Iraq and Romania

    4.10.2013 | (Voice of Iraq) - Add a comment -


    Under the patronage of His Excellency the Minister of Foreign Affairs Mr. Hoshyar Zebari prepared Ambassador Omar Alborznge a reception marking the passage of 55 years since the establishment of diplomatic relations between Iraq and Romania, attended by His Excellency Romanian Foreign Minister Titus Kurltsaan and a representative of the Romanian presidency and agents of the various ministries and ambassadors accredited in Romania and the clergy and a large number of Iraqi community and gave the foreign ministers of the two words on this occasion and in the words of Minister Hoshyar Zebari, to Iraq and Romania after more than half a century of diplomatic relations, a period of work on the development of relations in all the magazines. He stated that Iraq had acquired a lot of friends in the world and expressed the hope sustain these relationships.
    gave the Minister Roman after delivering his speech commemorative gift to His Excellency the Iraqi minister on this occasion
    it is worth mentioning that the Minister Hoshyar Zebari had spent part of the time of the concert with the Iraqis resident in Romania and on this occasion presented a symbolic gift on behalf of the Iraqi Community Association in Bucharest handed over to His Excellency the President of the Assembly Mr. Ehsan Alxba, and also picked up commemorative photo. At the gala dinner, which called for the two ministers emerged experience the Iraqi ambassador "Omar Alborznge" in the management and organization of the meeting and choose the quality of the invitees, which combined the symbols of the Iraqi community and the Arab and Islamic with a group of community leaders Romanian intellectuals and media in addition to the official delegations, parliamentary and gentlemen Arab ambassadors and representatives of the diplomatic corps. That referred the lounge invitation to a galaxy of stars of Roman society at the center of the table ministers and ambassadors
    links images

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    http://www.sotaliraq.com/mobile-news.php?id=118945#axzz2gnDMrooL
    Read more: http://www.sotaliraq.com/mobile-news.php?id=118945#ixzz2gnDePx9E



    U.S. Congress threatens to cut off aid to Iraq in the event of a repetition of any attack on MEK

    4.10.2013 | (Voice of Iraq) - Add a comment -


    Long-Presse / Baghdad threatened members prominent in the U.S. Congress, on Friday, Iraq "to cut aid allocated to it if repeat any attack on the MKO", and Pena that "it is unlikely to approve any sale of futuristic weapons to Iraq," in that event, and stressed Congress is "running out of patience over the continued failure of the Iraqi government in Hmyatem." said the newspaper (The Washington Times) U.S. in a report published today, and briefed him (Long Press), said that "each of Democratic Senator Robert Mendez chairman of the Foreign Relations Committee in the Senate, and Republican Senator John McCain Qama telling a senior official in the U.S. State Department that teaches the Iraqi government that Congress is running out of patience at the continuing failure to maintain the integrity of the elements of the PMOI from the attacks. " said Senator McCain, according to the paper the U.S., "The United States took over the protection of elements MEK after he handed over their weapons to U.S. forces in 2003, "he continued," After six years, recognizes the Iraq file the residents of Camp Ashraf in a timely and totaling 3,500 element. " said McCain, "We unfortunately have not adhered to our promise and hope to raise this issue with the Iraqi government , "pointing out that" we will have in Congress see the type of assistance provided to Iraq and how to hold them if they worked the Iraqi government to curb this act. " while Sen. Mendez "It is unlikely to agree to his commission on any sale of the future of arms to Iraq if What exposure camp residents to other attacks. " For its part, said Under-Secretary of State for Political Affairs Wendy Sherman, "The Ministry of Foreign involved the Foreign Relations Committee of Congress concerned about the attack on the camp on the first of September and which has left more than 52 dead." She said Sherman "The Iraqi government supplied the camp with 50,000 sandbags with barriers security to protect guests campers who are present now in Camp Liberty in Baghdad." And then I do Alsinato Mendes angrily, "I do not care how tons and put the sandbags, but when there are elements of the Iraqi joint is actually what happened, the sandbags will not have any interest in order to avoid the problem. " The Commission end the file of the MKO announced, in (September 22, 2013), that the Iraqi government had lost patience on file PMOI opposition, and confirmed that it is considering options Other to issue a binding decision to end their presence in the camp of Liberty (Liberty), and called upon the States concerned the camp to provide money to resettle in other countries and not advice only, "carried the UN Iraqi government responsible for the safety and security of the camp's residents. was the UN mission in Iraq announced, in (September 12, 2013), about the success of the transition of the last group of the residents of Camp Ashraf to Camp Liberty, while called on the Iraqi government to ensure their safety until their departure from Iraq, welcomed the U.S. State Department, the process of transfer.


    were commanded Diyala provincial police said, in the (September 12 2013), the transfer of the meal the last of the residents of Camp Ashraf of the PMOI in Diyala province, to Camp Liberty in Baghdad, and while confirming that the number of people who were relocated reached 48 element, indicated that the transfer took place under supervised directly by the United Nations. It comes move the residents of Camp Ashraf after about ten days to declare the PMOI opposition, in the second of September, 2013, that 55 of its members were killed and a large number after storming Iraqi security forces to Camp Ashraf, north of Baghdad, in conjunction with the fall of the mortar, and accused the Prime Minister Iraq's Nouri al-Maliki of being behind the operation, called the "Send" A delegation from the United Nations and the United States to the camp for "stop the massacre" that exposed residents of the camp. were the United States, condemned, on the ninth of September 2013, the attack on the elements of organization PMOI in Iraq early September current, while called on the Iraqi government to provide protection for the remainder of the elements of the organization who are in Camp Ashraf, demanded the administration to create a "cooperation with the UN mission (UNAMI) for the transfer of the remaining to the camp of freedom. while condemned Mission UN in Iraq (UNAMI), killing elements of the MKO at Camp Ashraf by trying to break into by the Iraqi security force, and called on Baghdad to "open an urgent investigation into the case" and ensure the safety of the injured from the elements of the organization.


    The attack is the second exposed elements of the MKO in Iraq in about six months, as the press freedom organization, on the ninth of February 2013, that 35 mortar shells and rockets landed on Camp Liberty, west of Baghdad, killing or wounding at least 106 people, warning the death of the injured because of the "rejected the Iraqi government" transferred to hospitals outside the camp. condemned the UN High Commissioner for Refugees (UNHCR), on the same day, the attack on Camp Liberty, which includes elements of the PMOI, demanding the Iraqi government to secure the protection of occupants until find quick solutions to them, calling they are people who asylum seekers, and apply to them the provisions of caring for refugees in accordance with international conventions, and promised what he was subjected to Liberty as a "despicable attack", called upon the United Nations, at the same time, the Iraqi government to open an urgent investigation into the incident.




    http://www.sotaliraq.com/mobile-news.php?id=118932#axzz2gnDMrooL

    Read more: http://www.sotaliraq.com/mobile-news.php?id=118932#ixzz2gnEUIhl1


    In my research I discovered this information on the Ministry of Planning of Iraqi
    It does not date the writing but is interesting. Hopefully it is not old news.


    The Exchange Rate of Foreign Currency in Economic Feasibility Studies


    Below are the central controls related to the exchange rate of the foreign currency to convert the project inputs and outputs from foreign currency to its equivalent in the local currency, and that is by calculating the net discounted present value standard and the internal return on investments in economic analysis that governs investment projects that costs excess one million dinars.



    Estimate the shadow price of foreign currency:



    1. It is necessary to put central controls to amend the official exchange rate * to reflect the shadow price of the foreign currency, and that is considered one of the necessary requirements to implement the net discounted present value standard and the internal return rate on investment in the economic calculation stated in the instructions, paragraph nine.


    The central controls for adjusting market prices distinguished a group of outputs and inputs traded internationally, where the projects production or usage of them is reflected on the abundance of foreign currency in the economy and thus project outputs or inputs used of such are considered purely foreign currency outputs or inputs.










    * What is meant by exchange rate: the number of units of foreign currency, expressed in dollar per one dinar.

    In particular the following outputs and inputs of foreign currency were distinguished:




    · Export-outputs.

    · Outputs marketed locally that substitute imports.

    · Imported inputs.

    · Inputs produced locally that usually go to exports.

    · Foreign labor.


    According to the pricing rules the value of the output and input (traded) is calculated using export prices (FOB) and import prices (CIF), according to what is listed in the pricing rules.


    In other words the pricing rules calculate what the project produces from foreign currency (quantity of exports multiplied by the export price (FOB) in foreign currency or the quantity of substitute imports multiplied by the import price (CIF) in foreign currency, as well as what the project uses from foreign currency and imported inputs multiplied by the import price (CIF) in foreign currency .... etc.).

    In a later step, project outputs and inputs must be converted from the foreign currency to its equivalent in local currency (dinars) by using a specific exchange rate for the foreign currency.






    2. Justifications for exchange-rate adjustment: there are a number of important and powerful arguments which support the view that the official exchange rate reduces the real value of foreign currency for purposes of calculating the economic national profitability for investment projects and hence for the purposes of investment planning. It is demonstrated in this context to call for assessing the dinar for less than (3.208) dollar (official exchange rate) when assessing project outputs and inputs of traded goods of exports, substitute imports and imports... etc.



    The justifications to call for the use of an exchange rate that is lower than the official exchange rate are:



    · The use of an exchange rate that is lower than the official rate is the appropriate action at the investment planning level to translate the country’s economic strategy aiming at stimulating central investments in the sectors that encourage the development of non-oil exports, as well as sectors that encourage the expansion of domestic production base in order to reduce imports and compensate it with local commodities. This helps to reduce reliance on foreign exchange earnings from crude oil exports and increases the share of non-oil sectors in the local production.



    · The application of the amended exchange rate on project imported inputs will assist in directing investments away from aggregated sectors dependent on imported inputs and the preference of those sectors that rely on locally produced inputs.



    · The use of the amended exchange rate helps to correct the balance in favor of the traded goods sectors compared to non-traded goods.



    · The real exchange rate has declined rapidly since the early seventies, through rapid rise of the level of prices and local costs which led by the steadiness of the official exchange rate to change in prices and actual local rate costs that gave an advantage for imported goods at the expense of locally produced goods, meaning that it led to deterioration of the competitiveness of alternative replacement goods and export commodities.



    · This action shows that the official exchange rate overestimates the value of the dinar, compared to the foreign currency and from the promoting goods substituting imports and export commodities point of view of.



    And in support to this view is the state’s utilization and in a broad approach to the customs and quantitative protection policies especially for consumer goods, as well as export subsidies that exports have through an amended export exchange rate.





    3. Estimate the amended exchange rate of the Iraqi dinar to be used in technical and economical feasibility studies and for (1.134) dollar per dinar. This price should be approved for 3 years until re-appreciation by the competent authorities.

    http://www.mop.gov.iq


    Nasdaq OMX Group Inc. is helping to set up a trading system for the Erbil Stock Exchange, which Iraq’s semi-autonomous Kurdish region plans to start operating by June, the new bourse’s chairman said.
    At least 25 companies will list shares on the Erbil exchange by the end of 2014, Abdullah Ahmad Abdul-Rahman said Friday in an interview in the northern Iraqi city. Trading will begin with an estimated volume valued at 5 billion dinars ($4.3 million) to 6 billion dinars, he said.
    “We aim to open a gateway for foreign investors in Iraq,” he said.
    The Kurdish enclave’s first stock exchange has also signed an 18-month advisory contract with New Jersey-based consultant Louis Berger Group Inc. The Kurdistan Regional Government plans to form joint ventures with private partners in agriculture, tourism and industry and trade their shares on the bourse, Abdul-Rahman said.
    The exchange, or ESX, will compete with the Baghdad-based Iraq Stock Exchange, which received a boost in February when mobile telephone operator Asiacell Communications PJSC listed its shares. Asiacell’s stock offering was fully subscribed and doubled the Baghdad stock market’s value from $4.66 billion last year, Taha Ahmad Abdul-Salam al-Rubaye, the Iraq exchange’s chief executive officer, said at the time.
    Nasdaq OMX is also helping to upgrade the Iraq exchange’s trading system, he said on June 28.
    “We hope there will be an agreement between the ISX and the ESX when it is launched, as this can increase liquidity in Iraq,” Shwan Taha, chairman of Baghdad-based Rabee Securities, said in an interview in Erbil.
    The market value of the Baghdad bourse could grow to $15 billion with the listing of the Iraqi unit of Mobile Telecommunications Co., Kuwait’s largest mobile operator known as Zain.
    The developments come days after Qatar Holding LLC, a unit of the Middle Eastern emirate’s sovereign wealth fund, bought NYSE Euronext’s 12 percent stake in the Qatar Exchange to become its sole owner. NYSE Euronext assisted with changes at the Qatar Exchange that almost doubled the bourse’s market capitalization and contributed to MSCI Inc.’s decision in June to upgrade the exchange to emerging market status from frontier, according to an Oct. 1 statement from Qatar Holding and NYSE Euronext.
    Kurdish authorities in northern Iraq have been disputing with the government in Baghdad over energy agreements, revenue sharing and land rights. The Kurds estimate their crude reserves at 45 billion barrels, enough to meet U.S. demand for almost seven years, and are building an oil pipeline as a step toward economic self-sufficiency.
    Iraq, with 150 billion barrels in reserves excluding Kurdish deposits, is the second-biggest producer in OPEC, after Saudi Arabia.



    http://m.dailystar.com.lb/Business/Middle-East/2013/Oct-05/233590-nasdaq-helps-set-up-erbil-stock-exchange-after-qatar-stake-sale.ashx?#axzz2gnQjMMNC



    Please join me in remembering a great icon of the entertainment community. The Pillsbury Doughboy died yesterday of a yeast infection and trauma complications from being repeatedly poked in the belly. He was 71.

    Doughboy was buried in a lightly greased coffin. Dozens of celebrities turned out to pay their respects, including Mrs. Butterworth, Hungry Jack, the California Raisins, Betty Crocker, the Hostess Twinkies, and Captain Crunch. The grave site was piled high with flours.

    Aunt Jemima delivered the eulogy and lovingly described Doughboy as a man who never knew how much he was kneaded. Born and bread in Minnesota, Doughboy rose quickly in show business, but his later life was filled with turnovers. He was not considered a very smart cookie, wasting much of his dough on half-baked schemes. Despite being a little flaky at times, he lived to be a crusty old man and was considered a positive roll model for millions.

    Doughboy is survived by his wife Play Dough, three children: John Dough, Jane Dough and Dosey Dough, plus they had one in the oven. He is also survived by his elderly father, Pop Tart.

    The funeral was held at 3:50 for about 20 minutes.
    :rofl: :rofl: :rofl:

    TEAMS:

    Yours is on last........ Up till 11:11.
    F26.


    TEAMS:
    Correction........... He just pd KWin full!!!!!!!!!!!!
    MARK NOW.




    Stop the communication end.
    Wait for my calls end.
    Full colors till M 2 am end.


    ND ..... BAM, GONE!!! BACK TO MY HOLE.... :hibye:



    That would be incorrect.

    NEWSHOUNDS................... You have work.

    SAGER Sir........... I love and respect You ......... But You know better than to ask me those questions as I communicate with my Teams. May I ask You as a brother in Jesus Christ to give thanks .......... TY Kindly.

    KTFA,


    Frank


    Call to citizens who have information about the property or documents of the State of Kuwait to contact the ministry


    Wednesday, October 02, 1 / 2013 17:48


    Call to citizens who have information about the property or documents of the State of Kuwait to contact the ministry[Baghdad where]
    Foreign Ministry called upon honorable citizens who have information about the property or documents belonging to the State of Kuwait contact the ministry in order to bring it back to Kuwait, in implementation of Security Council resolutions.
    A statement from the Oarh Agency has received all of Iraq [where] a copy of it today that “citizens’ cooperation with the Ministry, but it is a national action aimed at resolving issues that we inherited by the crimes of the former regime and to enable Iraq to return to normal in the international community.”
    The statement said the reward “for those who provide any information about the property and have provided an important service to his homeland.” Ended


    http://alliraqnews.com/index.php?option=com_content&view=category&layout=blog&id=41&Itemid=86


    Don't know if anyine saw this yet, intersting read. Be prepared.

    http://www.americanthinker.com/blog/2013/10/imf_chief_global_economy_changing_on_an_epic_scale.html

    The managing director of the Inernational Monetary Fund, Christine Lagarde, sees big changes coming to the global economy.


    Financial Times:


    The global economy is experiencing "transitions on an epic scale", the International Monetary Fund managing director said on Thursday, warning that turbulence in emerging markets could knock 0.5 to 1 percentage point off their growth.Christine Lagarde's remarks show the damage done to emerging markets by a recent round of "taper talk", over the possibility of the US Federal Reserve slowing the pace of its asset purchases and their vulnerability to future changes in the pattern of global capital flows.


    "The immediate priority is to ride out the turbulence as smoothly as possible," said Ms Lagarde. "Currencies should be allowed to depreciate. Liquidity provision can help deal with dysfunctional market behaviour. Looser monetary policy can also help."

    But she warned that countries with inflationary pressures - such as Brazil, India, Indonesia and Russia - have less scope to use monetary policy and that high debt and deficits mean many developing countries have little space for fiscal stimulus either.

    "Overall, the global outlook remains subdued," said Ms Lagarde, in her traditional speech ahead of the annual World Bank and IMF meetings in Washington next week. "In many of the advanced economies, however, we are finally seeing signs of hope. Growth is looking up, financial stability is returning, and fiscal accounts are looking healthier."

    The impact of a slowdown on US Federal Reserve asset purchases had been expected to dominate this year's annual meetings but the Fed's decision to hold off on tapering has removed that focus.

    Instead, the world's economic policy makers will have a ringside seat as they assemble in a US capital where much of the federal government is shutdown and a potential default is just days away if Congress cannot resolve its differences. Ms Lagarde said that raising the debt ceiling is "mission critical" for the world economy.

    "Because the normalisation of monetary policy affects so many markets and people across the globe, the US has a special responsibility: to implement it in an orderly way, linking it to the pace of recovery and employment; to communicate clearly; and to conduct a dialogue with others," said Ms Lagarde.

    Lagarde made it clear that inflation could still imapct much of the developing world, which is a danger as the Fed is expected to "taper" off its bond buying program early next year.

    And much of the danger in Europe of sovereign defaults has eased - not so much because of policies put in place but rather because there has been just enough growth to pull countries like Greece and Spain back from tbe brink.

    How long it lasts is the question that has yet to be answered.

    AZP


    Banker: private banks evolved considerably and now has external relations with international banks

    10.4.13
    support

    Baghdad (news) .. Invited the Executive Director of the Association of private banks Abdul Aziz Hassoun, the need to support the private banking sector through a deal with him and increase public confidence in him, pointing out that the private banks have evolved a lot and now has the external relations with international banks.
    said Hassoun (of the Agency news): Stop from statements unexplained, which fired some officials and specialists in the economic sphere towards private banks that they are delinquent in their work and take responsibility for any confusion is happening in the market or exchange rate of the dinar.
    added: that of private banks has evolved considerably from what it was in the past through the use of mechanization of modern to facilitate transactions Banking and speed of completion, as well as become their external relations with international banks, so the work is consistent with what issued by the Central Bank of the instructions and controls.
    pointed to: that the government is required to support the private banking sector by encouraging government institutions to deal with it in order to advance the development of the country .
    mentions that the banking system in Iraq consists of forty-three banks as well as the Central Bank and distributed by ownership between (7) state banks and (30) Bank Ahli including (7) Islamic banks in addition to (6) of foreign banks






    http://www.ikhnews.com/index.php?page=article&id=103304



    Foreign Policy: Washington refuses to use the aircraft in Iraq march

    10.05.2013 | (Voice of Iraq) - Add a comment -


    Translation term
    said Foreign Policy magazine in a report that the Obama administration is unwilling to appear in access new war in Iraq through the use of drones, requested by the Iraqis so much to help them in control of the airspace and to deal with al-Qaeda and camps.

    magazine said that over the weeks ago, the Iraqi officials are spreading the idea of using drones, U.S. to hit the al Qaeda-linked militants who are increasing their brutality on the land of the country. But the Obama administration aircraft regular friendly, drones, it seems that they are not in the mood to open a new front in the global campaign against aircraft attacks. He says officials in the American administration that attacks piloted aircraft in Iraq is not on طاولتهم now.

    , and despite the fact that no Iraqi counterparts and U.S. officials will say who canceled the use of unmanned aircraft in Iraq, it is no secret that began discussed first.

    On a visit to Washington in 17 of last August, transfer, Iraqi Foreign Minister, Hoshyar Zebari, said Baghdad is seeking to obtain advisers Americans, and air traffic control or the use of drones to fight al Qaeda in Iraq.

    was Zebari has said "We can not fight these terrorist threats mounting on our own. " When talking about drones specifically, he said as long as they are used "to target al-Qaeda and its rules," without causing "collateral damage", Iraqis would welcome them.

    In the same month, he repeated the Iraqi ambassador to Washington, Luqman Philly, Iraq's desire aircraft drones. He said that "the reason for which we think is now supported by drones is that we need to better control over our skies so that we can track and destroy al-Qaeda camps in the country."

    It is not difficult to understand why the Iraqis attention directed aircraft. On Monday last, behind the 12 car bomb attack dozens of people dead in an event that would cause a shock in any other country, is located in the civil war.

    However, Iraq has witnessed a brutal 38 accident in the last 12 months. In the year 2013 alone, Iraq is witnessing an explosion at an average of 68 car bombs per month. According to UN reports that 5740 Iraqi civilians were killed since January so far, which is more than twice the number of the dead who have signed up in 2010 as a whole.

    Although these figures Thunderbolt, the United States is not about to open a new war in Iraq aircraft without pilot. As he said an administration official said the use of drones war did not come up for discussion, not even the subject of thinking in regards to Iraq.
    U.S. officials say publicly that they stand behind the Iraqi government in its struggle to fight the wave of al Qaeda attacks escalating in the country.

    has said a spokeswoman for the National Security Council , Bernadette Meehan, "We look to the Government of Iraq a key partner in the fight jointly against al-Qaeda," she added "We are in an ongoing dialogue to explore possible ways to expand cooperation and assistance in facilitating Iraq's ability to weaken and defeat al-Qaeda network active inside Iraq., and beyond this, I'm not going to discuss Details diplomatic discussions. "

    but experts in counter-terrorism operations Iraqi say there is more than one reason may be behind the unwillingness of the United States to engage in this. Said Joseph Quinn, a teacher at Mrkazhoyst Point to combat terrorism, that "the administration brought us out of Iraq, and this is an achievement to them. So any intensification of activity in Iraq again would be against this success."

    and added, "may be the American administration is concerned what we call in the war to "mission creep" military, in the sense that it starts with the drones, but where will arrive?. "

    There are legal considerations as well. He says Sam برانن, a senior fellow at the Center for Strategic and International Studies, said that "there is a legal process is very strict and behind determine the candidate for the targeting and who is not so," and explains that the drones "to Atdharb targets without that there will be understanding of intelligence is very strong that the aim is a direct threat to the United States. In this case, it is clear that the targets pose a threat to Iraq, but not necessarily that it poses a threat to the United States. " But Ambassador Lukman Philly refused to say whether the Iraqis had made ​​a request for the use of drones or not, but said they will continue to request further assistance from the United States.

    said Philly "on the support that we get it, is the level we need urgent him? both" . He added that this "zone سلطنا light clearly also highlighted other officials."

    He said that the United States remains in support of the Iraqis in several respects, including the control of terrorists. "We get positive messages from the United States says they are more than happy to work with us in addressing the urgent need on the ground, first in the Western Sahara, and in this regard, there is cooperation going on now, including surveillance activities."


    Read more: http://www.sotaliraq.com/mobile-news.php?id=118960#ixzz2goGkBCq7


    A familiar story line: Banks get accused of rigging rates. Again.
    October 4, 2013, 10:56 AM

    Image
    ReutersA woman learns the security features of a euro banknote.

    The statement, all of three sentences, was short on details, but it got the point across.

    Switzerland’s financial regulator, known as the Financial Market Supervisory Authority or Finma, is looking into whether “several Swiss financial institutions” manipulated foreign-exchange rates. Finma is working closely with regulators in other countries, ”as multiple banks around the world are potentially implicated.” And no, it would not be answering any questions.

    Finma’s statement on Friday was a warning shot, a sign, it seemed, that more investigations are in the works. The U.K.’s Financial Conduct Authority already said this summer that it is investigating similar allegations.

    Bloomberg News first reported this summer on concerns that the foreign exchange rates were being manipulated. According to Bloomberg, some traders were colluding with other dealers at other banks to move the rates. They were also pushing through clients’ orders so they could get better rates on their own orders.

    Foreign-exchange rates — which involve the trading of one currency for another — might seem esoteric, but they’re essential building blocks in the architecture of the global economy. Foreign exchange rates help fund managers value the perceived day-to-day value of investments, and they affect pensions, savings accounts and other investments that follow broader indexes.

    It is hardly the first time that banks have been accused of collusion on what is supposed to be an open bidding process. Big banks have also been accused of rigging the Libor rate, which reverberates to affect the costs of mortgages and other consumer loans, and municipal bonds, which help cities and states pay for roads, schools and sewer upgrades.

    The Libor scandal spilled open in June 2012, after the British bank Barclays BCS was fined after some of its traders submitted artificial bids to rig the interest rate. The probes have expanded since then; regulators in the U.S., the U.K. and around the world are now investigating whether J.P. Morgan Chase & Co. JPM +0.23% , Citigroup Inc. c C -0.27% and other international banks rigged the Libor. Authorities are also looking into whether banks rigged the Euro Interbank Offered Rate, known as the Euribor, and the Tokyo Interbank Offered Rate, known as the Tibor.

    In June, the Monetary Authority of Singapore found that Citigroup, Bank of America Corp. BAC -0.14% and others had deficient risk management and controls relating to submission of the Singapore Interbank Offered Rate, or SIBOR.

    In July, J.P. Morgan settled charges from the Federal Energy Regulatory Commission, which accused the bank of rigging California’s energy market. The bank did not admit or deny wrongdoing.

    In July, the European Commission filed a “Statement of Objections” against Bank of America Corp., Citigroup, J.P. Morgan, Goldman Sachs Group Inc. GS , Morgan Stanley MS and others, alleging that the banks had broken EU competition laws by conspiring to prevent the development of transparent exchanges for certain products, such as credit default swaps. The Department of Justice in the U.S. is also investigating.

    http://blogs.marketwatch.com/thetell/2013/10/04/a-familiar-story-line-banks-get-accused-of-rigging-rates-again/


    A member of the Finance Committee: the importance of amending the Insurance Act for the development of the economic sector in the country


    04-10-2013 11:33 AM

    Baghdad (news) .. Confirmed a member of the Finance Committee MP / Kurdistan Alliance / Najeebeh Najib, the importance of amending the law to the private sector insurance No. 10 for the year 2005, for his active role in the development of the economic sector of the country.

    Said Najib (of the Agency news): it is one of the supporters of any law stating the private sector and it needs a legislative amendment or a legal order to be a catalyst to activate and revitalize this important sector, indicating that the Insurance Law of the most important laws that contributed to a successful major countries economically developed as work on the increase the confidence of citizens in the country.

    And demanded: the private sector to provide the legal text to be amended to the financial and economic committees to study and submit a proposal to the House of Representatives to amend it.

    It showed: including that Iraq is an Islamic state there is a kind of reservation on the issue of insurance, but we can proceed from the laws within the provisions of Islam and constitutional articles which to work to stimulate the private sector.

    The private sector companies in the field of insurance demanded official bodies to support amending the Insurance Act No. 10 of 2005, which it said he did not Ancefha, to be able to exercise its role which contributes to the economic development process in the country. / End / 5.. /
    - See more at: http://translate.googleusercontent.com/translate_c?depth=2&hl=en&ie=UTF8&nv=1&prev=_t&rurl=translate.google.com&sl=ar&tl=en&u=http://www.ikhnews.com/index.php%3Fpage%3Darticle%26id%3D103399&usg=ALkJrhhagO-ifx43iPgSncYB990gatTYQA#sthash.G1SRihBM.dpuf



    Law of the Ministry of Commerce



    10/03/2013 12:00 AM

    BAGHDAD - morning
    called for a member of the Committee of Economy and Investment parliamentary MP Nahida Daini inclusion of a paragraph in the law of the Ministry of Commerce include the opening of branches of the Department of Registration of companies in the provinces of economic and commercial activity.
    added Daini told the (morning) that the Ministry of Commerce is concerned party registration Acharkalt especially since Iraq now need to enter the investment companies to the provincial economic border to take its role in the development process. pointing to the need for accounting firms lagging according to the law and to develop new regulations to reduce administrative corruption of the companies involved in investment projects. They pointed out that the law of the Ministry of Commerce under discussion in the House of Representatives, it is hoped happen to positive changes in the work of the ministry.
    طباعة

    http://www.alsabaah.iq/ArticleShow.aspx?ID=55705



    Directions for the expansion of protected agriculture in Diwaniya



    10/03/2013 12:00 AM

    BAGHDAD - شكران Fatlawi
    continue the Ministry of Agriculture Bttaghizafilahin equipment and seedlings which is characterized by productivity and high resistance to diseases and conditions of transport, in a move which to encourage peasants.
    authoritative source in the ministry spoke of the "morning" a memorial systems, sprinkler irrigation for the expansion of agriculture protected, pointing out that the number of homes plastics amounted to more than 850 beta distributed between the districts and the areas of the province of Diwaniyah. He pointed out that the project team using techniques of modern irrigation promoting transactions peasants and farmers for the acquisition systems sprinkler types (axial, hard) and through nominations sent by the People's agricultural-related Directorate.
    He pointed out that the team make statements on the lands of peasants and farmers wishing acquisition systems, stressing that this systems provided by the ministry to support 50 percent of the price of the system import, as well as installment amount to ten annual installments. noted the source that the farms gives double the quota fertilizer to wheat crop fertilizer complex and urea, as well as give farmers outstanding production in these systems precedence in processing by machines and equipment.
    , and pointed out that the ministry is in collaboration with the Commission for project use irrigation techniques of modern supervision and follow-up and give scientific advice and training for farmers to set up, operate and maintain the system and keep up with the work from the beginning to the end of the season.
    noted that the number of systems distributed among the people Agricultural (5) systems for an area of 120 dunums (3) systems for an area of 80 acres, and (3) 68 dunums systems, (7) to the area of systems 42 without Mounaqlh.
    طباعة
    http://www.alsabaah.iq/ArticleShow.aspx?ID=55702


    NBK Trains More Than 1,110 Kuwaiti Employees During 2013
    KUWAIT CITY, Oct 1: National Bank of Kuwait (NBK) has trained more than 1,100 Kuwaiti employees during 2013, as part of its commitment to supporting Kuwaiti nationals. This year, NBK offered more than 90 training programs as part of the bank’s continuous drive to enhance the skills of the talented and qualified Kuwaiti nationals. “Investing in human resources is investing in our future,” said Emad Al Ablani, NBK Deputy General Manager, Human Resources Group. “NBK maintains its leading position as one of the country’s largest employers in the private sector and is committed to supporting Kuwaiti nationals and empowering them to realize their potentials.”


    Al Ablani added that “NBK will continue its efforts to provide career and training opportunities for nationals and to support the country’s aim to encourage young Kuwaitis to assume roles in the private sector”.
    NBK training programs include NBK Academy, the Summer Internship Program and the first of its kind in the region the NBK High Fliers Program in collaboration with the American University of Beirut to provide NBK’s future leaders with a wide range of leadership disciplines covering topics such as finance, risk and people management skills and included classroom discussion, case studies and assignments.

    http://www.arabtimesonline.com/RSS/tabid/69/smid/414/ArticleID/200229/t/NBK-trains-more-than-1110-Kuwaiti-employees-during-2013/Default.aspx



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    TUESDAY AFTERNOON NEWS 10/15/13

    Post by Admin on Sat Oct 19, 2013 12:47 am

    U.S. to delay release of TIC, currency reports due shutdown


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    WASHINGTON | Mon Oct 14, 2013 5:46pm EDT
    (Reuters) - The U.S. Treasury said on Monday it would delay the release of reports on exchange rate policies and international securities holdings due to the partial shutdown of the federal government.

    The Treasury said it was postponing a semi-annual report to Congress on foreign exchange policies, which was due on October 15. That report often chides nations such as China for keeping their currencies undervalued in order to boost exports.

    The government will also delay release of monthly data on securities holdings, which provides estimates on stock and bond purchases around the world. That report, known as Treasury International Capital data, or TIC, was due on October 16.

    (Reporting by Jason Lange; Editing by Leslie Gevirtz)

    U.S.POLIThttp://www.reuters.com/article/2013/10/14/us-usa-fiscal-data-idUSBRE99D0PN20131014


    Frank, a question I had from last night, How could China go bankrupt? This morning I found a good answer.

    WASHINGTON – Here’s a shocker.

    China is going broke faster than the U.S., according to economic planner Kirk Elliott

    China’s debt is about $36 trillion yuan (or $5.68 trillion USD). This number is astronomical considering that it is just a little more than one-third of the U.S. total debt, but the difference between the U.S. and China is that the U.S. national income per capita is $47,140, whereas China’s national income per capita is $4,260 – not even one-tenth of the U.S. amount. To be on par with the U.S., China’s total debt should be around $1.5 trillion USD, but it is three times that! Considering that the U.S. has an unsustainable debt position, China’s is ridiculously out of control and puts that country in extreme danger of a financial collapse of epic proportions.

    China’s officially published interest rate of 6.2 percent is fabricated. In reality China’s inflation is 16 percent. This is eerily similar to the United States as well. The U.S. official inflation of around 3 percent is nowhere close to unofficial inflation estimates of 10-13 percent. What does this mean for China? This means that cost of living, wages and cost of goods sold in China will have to rise, and instead of exporting deflation, China will be exporting higher priced goods, thus affecting the rest of the world that purchases its goods. The world is on the verge of an inflationary cycle like we have never seen. Additionally, central banks around the globe are printing money on a massive scale to try to stimulate liquidity and spending (this is the definition of inflation!). Add to this a rising price structure in China, the major exporter to the world, and we could be preparing for a global hyperinflation.

    Excess capacity in the economy and private consumption is only 30 percent of economic activity. Of course this is the case, as China’s population is extremely poor and China is an exporting nation. The vast majority of its goods should not be private consumption. But, what the excess capacity indicates is that there is a global economic slowdown. Since China’s growth is dependent on the rest of the world purchasing its goods, a global recession does not bode well for China’s economic future.

    China’s officially published GDP growth of 9 percent is fabricated. The real number is a negative 10 percent! China’s robust GDP has always been a pipe dream, as the country has been building infrastructure (railroads, highways and real estate development – including ghost cities). Since personal spending is only 30 percent of China’s GDP, roughly 70 percent of China’s GDP can be attributed to this massive build-up. It will dry up, as has already started. The regime is about to be exposed, as people are starting to wake up to the fact that the “emperor has no clothes.”

    China’s taxes are too high. Taxes on Chinese businesses – indirect and direct – are 70 percent of earnings. Individual tax rates are 81.6 percent. There is no way China can remain strong with these high taxes. We thought our taxes were high – because they are! But we are like schoolboys compared to China. It is the big boy on the taxation block. It’s just economics 101 – a country cannot remain strong or viable with tax rates this high. The population will ultimately revolt. I really believe China is ripe for revolution given these numbers; it’s just a matter of time. Sadly, for the Chinese citizens, their strong-arm government will not look kindly on any kind of political or social opposition.
    Elliott concludes: “There is an economic tsunami about to engulf China, and because of the size of China’s economy and its manufacturing might, the impact of the tsunami will be felt far and wide. The United States will feel it in the form of inflationary pressures that we can’t afford right now. Periphery countries to China may feel its military might or cower to political pressure as governments that run out of money start to do irrational things (look at the United States, or Greece, or the European Union).”

    Read more at http://www.wnd.com/2011/11/372457/#JEghQyxvI87ZwAqv.99


    TOP NEWS
    Analysis: U.S. debt ceiling crisis would start quiet, go downhill fast
    Mon, Oct 14 18:36 PM EDT
    By Jason Lange

    WASHINGTON (Reuters) - If Washington doesn't reach a deal soon to keep paying its bills, an economic crisis could start unfolding so quietly on Thursday it will give little hint of its potential to throw millions of Americans out of work.

    Many people would not notice right away if the government hits a $16.7 trillion cap on its debt, which could come on Thursday.

    Checks would likely go out on time that day for everyone from bondholders to workers who are owed unemployment benefits, according to analysts in government and the private sector.

    "The 17th will come, the lights will still be on and everything will look normal for 99 percent of Americans," said Steve Bell, a budget expert at the Bipartisan Policy Center in Washington.

    But that day will also mark America's passage into a period of heightened risk that its financial sector could freeze up in a panic, dealing a potentially severe blow to the nation's businesses and households.

    That's because, after then, the government by law will no longer be able to add to the national debt, and will have to rely on incoming revenue and about $30 billion in cash to pay the nation's many obligations.

    Unless Congress raised the nation's debt ceiling, the money would be gone within days.

    Leaders in the U.S. Senate said on Monday they were close to a deal to raise the debt ceiling and reopen the government but were not there yet.

    The Congressional Budget Office estimates Washington would start missing payments between October 22 and the end of the month. America could miss a $12 billion payment due to its Social Security pension program on October 23.

    FINANCIAL CRISIS

    Around this time, the economy would start sinking like a stone.

    To keep from adding to the national debt, the government would slash spending by about a third from one day to the next. Doctors owed money by the government for treating the poor could go unpaid on October 30. By November 1, soldiers could stop getting paychecks on time, and spending would fall across the country.

    "Hitting the debt ceiling even briefly could cause the next recession," said Joel Prakken, an economist at forecasting firm Macroeconomic Advisers.

    Goldman Sachs estimates the spending cuts could suck the equivalent of about 4 percent of national output out of the economy.

    Things would go downhill even more quickly if the government missed debt payments due on October 24 or on October 31.

    At that point, there would be a greater risk of a financial crisis because the value of U.S. government debt could be called into question. U.S. debt is used as collateral for trillions of dollars in financial deals, and even Wall Street titans are unsure how scarce credit could become if dealers decide it's no longer worth holding.

    "It would ripple through the global economy in a way that you couldn't possibly understand," JPMorgan Chase & Co Chief Executive Jamie Dimon told a finance conference on Saturday.

    Macroeconomic Advisers estimated the spending cuts and a severe credit crunch could cost more than 3 million jobs in America over the next year or so and push the jobless rate to nearly 9 percent.

    Already, there are signs of growing fears in financial markets.

    In recent days, major money market mutual funds - including Fidelity, JPMorgan and Pimco - have started shunning U.S. debt that comes due between October 17 and the middle of November.

    Many analysts think the United States would at least try to keep making bond payments in an effort to keep investors from panicking.

    The Obama administration has tried to downplay this possible strategy, saying the government's payment systems weren't designed to decide who gets paid and who doesn't.

    "It would be chaos," Treasury Secretary Jack Lew told lawmakers last week.

    (Reporting by Jason Lange; Editing by Karey Van Hall and Tim Dobbyn)
    http://mobile.reuters.com/article/topNews/idUSBRE99D0R320131014




    Soceity if I might add just a little more to this there seems to be a thought process saying to everybody that Iraq has to be open for business in order for the ri to occur.....I don't know about them but I bank here in the U.S........ Now with the 3 day Eid al adha being extended what better time for the shop keepers to get there prices changed,.........On a side note, I personally am very curious about the Qi cards :hmmm: Then there is the HCL, 140, 3 missing ministers and the lower denoms not to mention the ATM's that we have not heard anything about in quite some time although we have seen a few articles on the tarriffs law yet nothing very concrete.
    To sum this up I have to say that it has been very quiet on all these items........way too quiet!!!!!!!!!!

    Disclaimer: this was meant purely for expanding thought process's any and all debate's are welcome but will not elicit any respones by it's author :rofl: :rofl: :rofl: :rofl:


    Hey Toy....Agreed.....and, ironically, many say it has to happen when the US banks are closed in order for them to get ready......this is also illogical to me as only an estimated 1% US citizens are affected and banks already do foreign currency exchange daily.....all they need is a rate and they are ready......whereas in Iraq, 100% of the population is affected and everything will have to be significantly repriced in IQD....where this transition is eased is in the fact that reportedly the markets are significantly dependant on the USD.....nonetheless, I have always said that if it occurs during their normal business hours, the person that buys a coke for 1,000IQD will not be happy when the next customer only has to pay 1IQD or less......think about bigger ticket items.......IMO, this will only occur when the country is on holiday or essentially shut down from normal business hours to minimize any negative effects.....IMO, Thursday late evening has always been the best time in Iraq ......the mosque's can then be used as the front line strategy to announce and educate early Friday morning.....



    Joining Tax Convention Weakens Swiss Bank Secrecy
    It Joins 60 Other Countries Having Signed an Agreement to Share Data for Tax Purposes


    By JOHN LETZING CONNECT
    Updated Oct. 15, 2013 11:22 a.m. ET
    ZURICH—Switzerland signed onto an international agreement for sharing financial information with dozens of other countries that promises to erode further a hallmark of the Alpine nation's banking laws: secrecy.

    On Tuesday, Switzerland joined nearly 60 other countries that have signed an Organization for Economic Cooperation and Development convention on exchanging data for tax purposes, the OECD said in a statement. The tax agreement, called the Multilateral Convention on Mutual Administrative Assistance on Tax Matters, dates to 1988.

    Until recently, Switzerland had remained defiantly protective of secrecy for banking clients. The country's participation in the agreement is seen as important because Switzerland is the world's largest offshore wealth center.

    Switzerland has drawn intense scrutiny from foreign authorities seeking to draw tax revenue from undeclared bank accounts held here. The country's bank secrecy laws helped land Switzerland on the OECD's so-called "gray list" of countries that function as tax havens in 2009.

    "Switzerland has been committed to complying with international standards in tax matters since March 2009," Stefan Flückiger, the Swiss ambassador to the OECD, said in the statement. "The signing of the convention confirms Switzerland's commitment to the global fight against tax fraud."

    The OECD tax information agreement requires participants to help one another with tax collection. It also includes provisions for automatic exchange of financial information in some cases.

    Switzerland's finance department signaled last week that the country intended to participate in the OECD measure. The country has similar bilateral agreements already in force with dozens of countries.

    The U.S. Department of Justice has mounted a campaign in recent years that has resulted in the prosecution of Switzerland's biggest bank, UBS AG UBS +0.05% , for aiding American tax evaders, as well as the indictment of Switzerland's oldest lender, Wegelin & Co.

    Meanwhile, authorities in European countries, including Germany and France, have also sought to sidestep Swiss bank secrecy and gain information about accounts that have gone undeclared.

    To help avoid friction over tax matters in the future, Switzerland has agreed to comply with the U.S. Foreign Account Tax Compliance Act, which will require banks to hand over data on U.S. clients.

    http://online.wsj.com/news/articles/SB10001424052702303376904579137381329790154?mod=WSJ_LatestHeadlines


    U.S. to delay release of TIC, currency reports due shutdown


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    WASHINGTON | Mon Oct 14, 2013 5:46pm EDT
    (Reuters) - The U.S. Treasury said on Monday it would delay the release of reports on exchange rate policies and international securities holdings due to the partial shutdown of the federal government.

    The Treasury said it was postponing a semi-annual report to Congress on foreign exchange policies, which was due on October 15. That report often chides nations such as China for keeping their currencies undervalued in order to boost exports.

    The government will also delay release of monthly data on securities holdings, which provides estimates on stock and bond purchases around the world. That report, known as Treasury International Capital data, or TIC, was due on October 16.

    (Reporting by Jason Lange; Editing by Leslie Gevirtz)

    U.S.POLIThttp://www.reuters.com/article/2013/10/14/us-usa-fiscal-data-idUSBRE99D0PN20131014

    Hmmm...connect the ...






    Aloha Kufu.......... On CC last night in between Nova and Bluestar I tried to prepare everyone for W or Th if our Gov't is not exactly ready or if AoP are needing one more month.

    Ta Da.

    KTFA,


    Frank


    Here's something new today, I watch the WF currency exchange rates daily, (more than once per day) and just within the last hour or so the VND has been added to the list. It was never there before.
    Screen shot attached. Go to the WF website and view under foreign exchange today's rates. Now if they add IQD today or tomorrow - I'll get real excited. But anyway this is progress family.
    Blessings
    lcm



    Country

    Currency

    Sell to You (USD)


    Argentina
    peso (ARS) 0.1926

    Aruba
    florin (AWG) 0.6207

    Australia
    dollar (AUD) 0.9940

    Bahamas
    dollar (BSD) 1.0638

    Bahrain
    dinar (BHD) 2.9806

    Barbados
    dollar (BBD) 0.5661

    Belize
    dollar (BZD) 0.5345

    Bermuda
    dollar (BMD) 1.0638

    Brazil
    real (BRL) 0.5401

    Brunei
    ringgit (BND) 0.8944

    Canada
    dollar (CAD) 1.0087

    Cayman Islands
    dollar (KYD) 1.3620

    Chile
    peso (CLP) 0.0023

    China
    yuan (CNY) 0.1774

    Colombia
    peso (COP) 0.0006247

    Costa Rica
    colon (CRC) 0.002267

    Croatia
    kuna (HRK) 0.2119

    Czech Republic
    koruna (CZK) 0.06006

    Denmark
    krone (DKK) 0.1914

    Dominican Republic
    peso (DOP) 0.02705

    East Caribbean
    dollar (XCD) 0.4115

    Egypt
    pound (EGP) 0.1688

    Eurozone
    euro (EUR) 1.4233

    Fiji
    dollar (FJD) 0.6061

    Gibraltar
    pound (GIP) 1.7733

    Great Britain
    pound (GBP) 1.6681

    Guatemala
    quetzal (GTQ) 0.1459

    Honduras
    lempira (HNL) 0.05621

    Hong Kong
    dollar (HKD) 0.1361

    Hungary
    forint (HUF) 0.005084

    Iceland
    krona (ISK) 0.009830

    India
    rupee (INR) 0.01797

    Indonesia
    rupiah (IDR) 0.0001060

    Israel
    sheqel (ILS) 0.3227

    Jamaica
    dollar (JMD) 0.01094

    Japan
    yen (JPY) 0.01059

    Jordan
    dinar (JOD) 1.6223

    Kenya
    shilling (KES) 0.01409

    Kuwait
    dinar (KWD) 4.0145

    Latvia
    lats (LVL) 2.2074

    Lebanon
    livre (LBP) 0.0007783

    Lithuania
    litas (LTL) 0.4502

    Malaysia
    ringgit (MYR) 0.3454

    Mexico
    peso (MXN) 0.08212

    Morocco
    dirham (MAD) 0.1452

    Nepal
    rupee (NPR) 0.01209

    Netherlands Antilles
    guilder (ANG) 0.6260

    New Zealand
    dollar (NZD) 0.8753

    Nicaragua
    cordoba (NIO) 0.05233

    North Ireland
    pound (INP) 1.6681

    Norway
    krone (NOK) 0.1760

    Oman
    rial (OMR) 2.9189

    Pakistan
    rupee (PKR) 0.011073

    Papua New Guinea
    kina (PGK) 0.4400

    Paraguay
    guarani (PYG) 0.0002522

    Peru
    nuevo sol (PEN) 0.4060

    Philippines
    piso (PHP) 0.02637

    Poland
    zloty (PLN) 0.3803

    Qatar
    riyal (QAR) 0.3086

    Romania
    new leu (RON) 0.3499

    Russia
    ruble (RUB) 0.03520

    Saudi Arabia
    riyal (SAR) 0.2996

    Scotland
    pound (SCP) 1.6681

    Singapore
    dollar (SGD) 0.8496

    South Africa
    rand (ZAR) 0.1159

    South Korea
    won (KRW) 0.0010238

    Sri Lanka
    rupee (LKR) 0.009084

    Sweden
    krona (SEK) 0.1629

    Switzerland
    franc (CHF) 1.1427

    Tahiti
    franc (XPF) 0.01210

    Taiwan
    dollar (TWD) 0.03787

    Thailand
    baht (THB) 0.03393

    Trinidad and Tobago
    dollar (TTD) 0.1768

    Tunisia
    dinar (TND) 0.7290

    Turkey
    new lira (TRY) 0.5605

    United Arab Emirates
    dirham (AED) 0.3059

    Uruguay
    peso uruguayo (UYU) 0.05218

    Vietnam
    dong (VND) 0.00005709


    Adoption of the ATM system service regardless of the salaries of the staff of the General Secretariat of the Council of Ministers


    10/13/2013 12:42 PM

    Adopted the financial department of the Secretariat of the Cabinet system service ATM true for accounts salaries circles Secretariat.

    showed the Department of Finance to the Office of Information and Communication government to deal with regard to the expense of employees' salaries through a system of ATMs (ATM) using the Visa card in line with the development technical user in most developed countries.

    said Chamber to deal بالفيزا card through machines automated teller (ATM) by a number of banks operating in Iraq.

    explained that the system Visa Card allows users to take advantage in the areas of (shopping from the shops. shopping online.

    conversion. identity of the tariff. obtain advances. fines. paying bills: water. electricity. phones ... etc.), also contributes to their use in stimulating and activating the economic situation and reduce the monetary mass in circulation and the risks of dealing in foreign real and gradually move to a new phase in the adoption of cash mail.

    http://www.cabinet.iq/ArticleShow.aspx?ID=3778



    BUT AS WAS STATED ON THE CC LAST NIGHT.... IN THEIR OPINION, THE CBANKS AND LEADERS WOULD ALL HAVE TO COME BACK FOR ANOTHER MEETING... ???

    IMO, IF THE AOP'S ARENT READY BY NOW, THEN THATS A DOWN RIGHT SHAME!!







    NO!!!

    It would be a shame and disasterous if the AoP pulled the trigger before .............. The bullets were in place.

    It would be such a waste of ............ Effort.

    Let's see HOW O leads our Nation ............... On the 17th.

    Remember .......... I believe a solution HAS ALREADY been established as they simply show off their peacock colors to each other and YOU.

    Yet .......... I am a Leader .......... Therefore I prepare for all scenarios based on pattern studies with my Teams.

    KTFA,


    Frank


    Hmmm............ Funny You say that.

    Tonight if time allows I plan to talk about O and his ............ B61-11.

    C U in 7........... Aloha :hibye:

    KTFA,


    Frank
    Image

    :hibye:
    LOL.......... A bomb that does not go ............ Boom......... Instead ....... BOO!!!

    This bomb would scare me if used against me. Total shut down ........... HMMM.......... Sounds familiar. LOL........... I better go.

    KTFA,


    Frank


    Frank, a question I had from last night, How could China go bankrupt? This morning I found a good answer.

    WASHINGTON – Here’s a shocker.

    China is going broke faster than the U.S., according to economic planner Kirk Elliott

    China’s debt is about $36 trillion yuan (or $5.68 trillion USD). This number is astronomical considering that it is just a little more than one-third of the U.S. total debt, but the difference between the U.S. and China is that the U.S. national income per capita is $47,140, whereas China’s national income per capita is $4,260 – not even one-tenth of the U.S. amount. To be on par with the U.S., China’s total debt should be around $1.5 trillion USD, but it is three times that! Considering that the U.S. has an unsustainable debt position, China’s is ridiculously out of control and puts that country in extreme danger of a financial collapse of epic proportions.

    China’s officially published interest rate of 6.2 percent is fabricated. In reality China’s inflation is 16 percent. This is eerily similar to the United States as well. The U.S. official inflation of around 3 percent is nowhere close to unofficial inflation estimates of 10-13 percent. What does this mean for China? This means that cost of living, wages and cost of goods sold in China will have to rise, and instead of exporting deflation, China will be exporting higher priced goods, thus affecting the rest of the world that purchases its goods. The world is on the verge of an inflationary cycle like we have never seen. Additionally, central banks around the globe are printing money on a massive scale to try to stimulate liquidity and spending (this is the definition of inflation!). Add to this a rising price structure in China, the major exporter to the world, and we could be preparing for a global hyperinflation.

    Excess capacity in the economy and private consumption is only 30 percent of economic activity. Of course this is the case, as China’s population is extremely poor and China is an exporting nation. The vast majority of its goods should not be private consumption. But, what the excess capacity indicates is that there is a global economic slowdown. Since China’s growth is dependent on the rest of the world purchasing its goods, a global recession does not bode well for China’s economic future.

    China’s officially published GDP growth of 9 percent is fabricated. The real number is a negative 10 percent! China’s robust GDP has always been a pipe dream, as the country has been building infrastructure (railroads, highways and real estate development – including ghost cities). Since personal spending is only 30 percent of China’s GDP, roughly 70 percent of China’s GDP can be attributed to this massive build-up. It will dry up, as has already started. The regime is about to be exposed, as people are starting to wake up to the fact that the “emperor has no clothes.”

    China’s taxes are too high. Taxes on Chinese businesses – indirect and direct – are 70 percent of earnings. Individual tax rates are 81.6 percent. There is no way China can remain strong with these high taxes. We thought our taxes were high – because they are! But we are like schoolboys compared to China. It is the big boy on the taxation block. It’s just economics 101 – a country cannot remain strong or viable with tax rates this high. The population will ultimately revolt. I really believe China is ripe for revolution given these numbers; it’s just a matter of time. Sadly, for the Chinese citizens, their strong-arm government will not look kindly on any kind of political or social opposition.

    Elliott concludes: “There is an economic tsunami about to engulf China, and because of the size of China’s economy and its manufacturing might, the impact of the tsunami will be felt far and wide. The United States will feel it in the form of inflationary pressures that we can’t afford right now. Periphery countries to China may feel its military might or cower to political pressure as governments that run out of money start to do irrational things (look at the United States, or Greece, or the European Union).”

    Read more at http://www.wnd.com/2011/11/372457/#JEghQyxvI87ZwAqv.99
    For those who normally don't read technical data, please read this even if it is not your cup of tea. Mugs job here is to make you smile, however, for a brief moment I will set that aside. While pursuing my degree I once calculated GDP (Gross Domestic Product) by hand I might add. The resulting end number matched the governments precisely. By working through the formula/equation, I realized the factors within equation were also flawed as many parts had been conveniently "left out."
    Although a different animal altogether the inflationary numbers presented to us by our government should be clearly obvious to all at this point that they are a lie. The real numbers represented above are at least close to reality. Your should read what AGOLD has found and prepare for your future. To be blunt-get out of debt as future prices of the items you need will be so high that you will need these current dollars used for debt to stay alive. Do not operate in fear-just get prepared NOW. If I am wrong, which I am not, you will have excess cash. I will need to take my own advice. Great find AGOLD!
    Image
    :cupotea: :cupotea: :cupotea: May I speak Frankly?...Lol...Frank's ,John's, and Nova's information on last nights was explosive to you your ears...Can I hear a AMEN..?..In Frank's case 3 Amen's..Family Frank has told you the Debt crisis is not the issue..However, our media wants this cover piece to be thee issue...Has anyone read Catch "22"...Illusions are of interest in politics and war..
    ......Our Fathers amazing word tells us our war is not against flesh and blood,but against spiritual principalities...Our leader Frank26 knows this all too well..Here is where I nudge you to connect the dots..Nova - John confirm all the players are in attendance as of now...M comes on Oct 25th..This is where we start to make our assumptions if you will....Imo...Yes, there is smoke ; Yes there is truth...Yesterday I post a article which showed unusual dating... said up to 14/7/13..Iraq banking was closed..This is some of what the ME.. world follows as a calendar...This is the Lunar Babylonian Calendar...Imo the Hebrew calendar follows this closely...at least at this set time of year..The date of Oct 20th is Tishri 15....Happens to be "Tabernacles" ..Day 1 of Christians throughout the world to follow the said instructions given the Bible in reference to observe the 3 forever feasts said in scripture...Passover,Pentecost,and Tabernacles...Satan on the other hand wants to rob Glory from the Father... Hmmm.. Is it any wonder their Banking is closed through our 19th?..Opens on our 20th..Is this by chance?..Now couple this with USA debt crisis..Hmmm it continues day after day after day...They are making a new meanings for "SMOKEY THE BEAR"..LOL..Just a hunch.. We will not hear of debt crisis resolutions publicly until EID is over...This will point to ...Look at what Allah has given you..Currently they are saying we can float past 17th and still pay our Bills..Hmmm... But there are articles saying we can't go past October 22nd...Family the best intel Frank has given you is "PRAY"...We truly are in a spiritual war against spiritual principalities..But,we know better ...Our Fathers Feast of Tabernacles needs the credit...So all honor glory needs to go to our Father in Heaven and thats the truth of this crisis imho...and the Islam world needs to know the Truth of proper Feasts and who's Glory our lips sing praise to...As Frank Leaves you...Amen,Amen,Amen




    LOL.......... A bomb that does not go ............ Boom......... Instead ....... BOO!!!

    This bomb would scare me if used against me. Total shut down ........... HMMM.......... Sounds familiar. LOL........... I better go.

    KTFA,


    Frank

    Shutdown: White House Rejects GOP Debt Plan
    5:59pm UK, Tuesday 15 October 2013
    The White House has rejected a new proposal from House Republicans for reopening the government and extending the debt ceiling.
    http://news.sky.com/story/1154923/shutdown-white-house-rejects-gop-debt-plan
    White House, Dems preemptively blast House GOP budget plan before it's introduced
    Published October 15, 2013

    The White House and its Democratic allies in Congress moved to shoot down an emerging House Republican budget proposal before it even left the ground, blasting the late-breaking plan as a "partisan" product that would imperil efforts to meet the looming debt-ceiling deadline.
    http://www.foxnews.com/politics/2013/10/15/house-gop-floats-plan-to-address-debt-ceiling-government-funding-in-response-to/

    Oh boy Frank........ Your tea is good.... :cupotea:



    KTFA,

    The Sandman


    BREAKING: House Conservatives Revolt Against Senate Plan — HOUSE GOP TO PUT OWN BILL ON FLOOR TODAY!!!

    House conservatives are signaling their disapproval of a possible Senate deal that would reopen the government and raise the debt ceiling, providing expected complications just two days ahead of a Thursday deadline to raise the nation’s borrowing limit.

    And now House Republicans are planning to move their own bill, according to National Review’s Robert Costa.

    According to Costa and other reports, the bill would fund the government through Jan. 15 and raise the debt ceiling through Feb. 7.

    It would also include three Affordable Care Act-related provisions — a two-year delay of the tax on medical devices, an income-verification process for people applying for subsidies, and a version of the “Vitter amendment” that would bar just lawmakers (not congressional and White House staff) from receiving subsidies for federal health insurance under Obamacare.

    http://investmentwatchblog.com/breaking-house-conservatives-revolt-against-senate-plan-house-gop-to-put-own-bill-on-floor-today/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Investmentwatch+%28InvestmentWatchBlog%29


    HEY FRANK ...................

    Just for you ............................................

    Image




    Yes ZEKE .......... I remember!!!

    KTFA,


    Frank



    (Downgrade2morrow#3)


    Frank

    In reguards to B61-11........Thank God we still have honorable men in the military who love our country!

    Indyguy





    THREE ............. That I will talk about tonight.

    KTFA,


    Frank


    If anything happens 17-18 then they won't have time to bring M in at the end remember he doesn't get there till 25th?

    M could also have a post-RV appointment with O. We will need to continue a good, working relationship with Iraq going forward. Most of the big boys in the political and financial world are already in DC. It would be good to have him there AFTER so he doesn't screw things up while the adults are planning now.
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    TUESDAY LATE MORNING NEWS 10/15/13

    Post by Admin on Sat Oct 19, 2013 12:56 am

    Yes, your are correct....they will hide it for as long as they can......maybe we'll see something on the 20th or 21st :fervently:

    :handshake1:


    This week looks strong as a possibility to see the ri.....ISX is shut down along with the CBI until Sunday.....there has been many articles stating concern over confusion within the country and how mass media means will be utilized to minimize this confusion......while Sunday may look obvious as a great day to see a rate increase, I believe they will do it sooner if this is our week....

    If we look at this as a whole, we are pretty certain there will be other currencies that change value at that same time as Iraq....Nova stated that in his opinion, when they are ready, the switch will be flipped no matter what day or time.....Bluestar said that a deal is done and will pass Wednesday morning in the US and he then looks to later on Wednesday as probable.....

    I personally like the probability of Thursday afternoon in the US.....this will be late Thursday evening in Iraq giving Friday morning for education in the mosque's, Friday evening/Saturday all day for educating the country and repricing and then Sunday opens with minimal confusion....The first announcement related to the ISX stated something about calculations on Monday, reopen Sunday with knowledge, all fine. Now they may have been talking of something unrelated or translation was questionable. Nonetheless, I found this curious.

    Even Frank seemed to believe that if a US deal is done this week, look out.....That being said, Frank has been pointing to Nov 1.....Nova said that just like the bank shut down of Panama, the shut down in Iraq may not result in the ri at the end but that clearly something is about to happen.....he also pointed out that he would not expect this 30+ days from now as all the financial bigwigs would have to be brought back......that being said, he pointed out that this length of shut down in Iraq has never happened over Eid...

    The bottom line of this rambling.....IMO, IF this is the week that we see the ri, if they wait until Sunday when the country reopens to tell the Iraqi people, there will be significant confusion in the country....this confusion will be substantially mitigated if the announcements come before Friday morning in Iraq.....In fact, IMO if we do not see the ri before Friday morning, we should then start looking to the next dates where Frank is already pointing....




    Frank, Nova, Bluestar....
    Thanks for the very informative call last night.

    I do have a question about a comment that Bluestar made. He said...

    Big wigs who are already cashing in, who are re-cashing and double dipping as we speak...

    Is he talking about individual VIP's cashing in and exchanging into different currencies?
    or
    Is he talking about Countries (Central Banks) cashing in and exchanging into different currencies?

    Either way... I think that this piece of info is HUGE.
    It is coming family...
    It is coming...



    I believe he is referring to VIP whom are either authors of the plan, or people who they want to financially reward- i.e. SOME Congressional members but not all as some were trying to stop Obama care---they likely did not get paid- I had heard some in Congress were furious about not being able to exchange yet...but that is all HEARSAY.




    Image

    12/10/2013

    Seniors leave out zeros currency by the government


    Agency JD / Abbas Al traveler / .. You might have heard and you shop from the grocer or when buying bread or during the ascension in transportation also, you hear one "older" pronounces the words Hack: text dinars, or quarter of a dinar or give me bread dinar, at first glance you think he suffered a "Alzheimer's," but when Tfhsk position well, you find that it is the collective sense of the category of "older" nostalgic beautiful, and the days of the good, or, as he says, mostly "day Jean dinar Ahadji," and you find most of these "older" remember their wives, especially the time of the controversy and Ieirunhn, they paid مهورهن currency "Abu Shayeb or Abu fort or carpaccio Abu Ten," a reference to the categories of cash Dhma in their days, Vvih ten dinars where she painted the image of the Arab world, "Hassan Ibn al-Haytham," as well as a class of twenty-five dinars were three horses Arab painted them.

    Pat nostalgia Gemayel, who lived Iraqis days of economic prosperity except during the dictatorial regime is obsessed with all Matnih this word and ماتحمله of meaning, where the purchasing power of the national currency, with small size or the small number of zeros that they contain, and may have استثقال figures large on the year "older" is Maidfhm to the word "dinar" in addition to most of them it gets lost the account due to the spread of currency in Iraq, there are plenty of shops dealing in foreign currencies, "the dollar and the euro," and he says Baghdadis "lost the thread and sparrow" and forced most of the elderly to take grandchildren or their children during their dealings or receiving their salaries.

    Employees veterans remember things realistic about the purchasing power of the Iraqi currency day seventies and late sixties, including that more teachers were traveling to European countries in the summer holidays, Faihmlon them money Iraqi Ikomen Ptsrifaa in those countries with difference currency dollar compared to the Iraqi dinar, which was worth more than three Dollars are expenses of their journey became free with the purchase of gifts and extravagance spending.

    And identifies a senior researcher "Hanna Batatu" in his famous book "Iraq" Iraqi families rich they own million dinars, or exceeded its wealth of this amount before the revolution of 1958, where the establishment of the Republic replaced the property, but not exceeding the number of these families and that was including the staff of the Jews, and the number does not exceed 8 families, and compared nice between Makant owned by these families in that period, which is set a huge, and the number "one million Iraqi dinars" Now, this amount was a record large in tanks wealthy and their bank accounts and was the subject of pride and bigger class, pour two scenarios must apply not exceed the price "Telephone mobile-class smart" holds any young Iraqi man in his pocket, no wealth largest traders and staff fifty years ago in the pocket of any young Iraqi average case or class "bourgeois" middle as he calls sociologists, and all this is due to over-printed coins with large groups that caused the decline of their purchasing power.

    And still more Iraqis have "denominations old" in محفظاتهم personal keepsake for that stage gold, as well as to seek blessing from them as they have purchasing power too large to Atdhahiaa any other currency except the Kuwaiti dinar, and they consider a good omen for a living so found parked under "الجام:" on a table cashier In most popular restaurants and ovens, and believe it brings them livelihood.

    Has worked governments that came after the occupation on the project to delete the zeros of the local currency, and return the prestige of the Iraqi dinar and its purchasing power against the U.S. dollar or other currencies other cash, but it apparently is not easy, the fact that Iraq is linked organizations oil such as "cartel" that impose upon conditions and laws they are mostly not in his favor, as well as link the country's government budget global oil market, which does not allow to take any step without detection or review.

    And resorted to the Government of the dictatorial regime previously Among its monetary policy wrong, and because of the imposition of economic embargo on Iraq, to put the local currency "printing" in exchange for withdrawal of currency Alsosria of the deal, which led to inflation, currency digitally with low purchasing power in the domestic market, in addition to rejection handled externally, and had been working in each period under which to disappointment or blow economical from the outside to put up a new currency alternative to the first, causing big losses for traders and owners of capital, opening the door to the counterfeiting of currency, which was carried out in Iraq or from abroad, specifically of its neighboring countries. / End / / 22

    http://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sl=ar&tl=en&u=http://dananernews.com/News_Details.php%3FID%3D4025&usg=ALkJrhjAcnmeJjsYWLrbfucVkZviXvDZVw






    Soceity if I might add just a little more to this there seems to be a thought process saying to everybody that Iraq has to be open for business in order for the ri to occur.....I don't know about them but I bank here in the U.S........ Now with the 3 day Eid al adha being extended what better time for the shop keepers to get there prices changed,.........On a side note, I personally am very curious about the Qi cards :hmmm: Then there is the HCL, 140, 3 missing ministers and the lower denoms not to mention the ATM's that we have not heard anything about in quite some time although we have seen a few articles on the tarriffs law yet nothing very concrete.
    To sum this up I have to say that it has been very quiet on all these items........way too quiet!!!!!!!!!!

    Disclaimer: this was meant purely for expanding thought process's any and all debate's are welcome but will not elicit any respones by it's author :rofl: :rofl: :rofl: :rofl:
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    TUESDAY MORNING NEWS 10/15/13

    Post by Admin on Sat Oct 19, 2013 1:00 am

    Lord, be with this family today. Surround each family member with Your love and protection. Thank You for providing all of our needs according to His riches and glory of Christ Jesus, for Your healing touch on all who are sick, for going before us and making our paths straight, for the pouring out of Your blessings upon us. Thank You for Your mercy and loving kindness that are new every morning, for sending Your army of angels to fight for us and Your guardian and warrior angels to guard and protect us. Bless the works of our hands that they may glorify and honor You. May we be a blessing and delight to You. May all praise, glory and honor to You resound in heaven and on earth. Thank You for all you do for us.


    Business Rebuilds In Thriving City in Iraq

    Michael T. Luongo

    Image
    Empire City, if completed as planned in 2017, will give Erbil a skyline resembling a small-scale Dubai.

    By MICHAEL T. LUONGO
    Published: October 14, 2013

    ERBIL, Iraq — Perception is not always reality with emerging business travel destinations. That’s especially true for Erbil, the political and business capital of the autonomous Kurdish region in the north of Iraq. The city is becoming an alternative to Iraq’s southern provinces to tap into the country’s oil wealth and other business opportunities.

    The city has endured violence at times, most recently bombings on Sept. 29 in front of the regional Kurdish government’s security service that killed at least six people and wounded dozens. Al Qaeda later claimed responsibility for the attacks. They were seen by some as an outgrowth of the conflict in Syria, where Kurdish militias have been fighting groups linked to Al Qaeda.

    It was the first significant bombing since 2007 in Erbil, which has mostly avoided the violence that has plagued the rest of the country. Thanks in part to the stability, the Kurdish economy has grown at about 10 percent annually in recent years.

    Cranes now dot the skyline in this city of 1.3 million as enormous construction projects change its landscape. Among the largest developments is Empire City, which, if completed as planned in 2017, will give Erbil a skyline resembling a small-scale Dubai. Developed by the Iraqi company Empire World, the dusty construction site is currently dominated by a 400-foot central tower.

    Plans call for dozens of towers, many above 30 stories, and 300 villas, with more than 13 million square feet of space, representing a $2.3 billion investment, according to Tamara Brilz, Empire’s business development manager. She said that Marathon, Chevron, Total, Hunt and other oil companies had signed deals at Empire City.

    Empire City is just one example of what has been a highly effective campaign by Kurdish leaders to make Erbil a haven for Western business in a tumultuous country.

    Already, the hotel industry is expanding to serve the increase in business activity. Marriott, for example, the first American hotel chain in Erbil, is part of the Empire City development and is scheduled to open a hotel in 2015. Best Western, Kempinski, Hilton and other international chains are also planning hotels in Erbil, with Divan, a Turkish company, and Rotana, a United Arab Emirates company, already operating high-end hotels opposite the Empire City site.

    Ms. Brilz, a native of Canada who moved here in 2011, said that relatives and friends had expressed concerns. “All people see about Iraq back home is on CNN and it is all bombing in Baghdad, and there is very little about Kurdistan.” She added: “I drive a car here. I have no issues here, and it is completely safe, even as a woman.”

    Describing Empire City as “a city within a city,” she said that the development was already affecting business travel in and out of Erbil.

    Airlines have increased the number of flights going to the city, according to Andrew Jones, commercial adviser for Erbil International Airport. A British native who moved to Kurdistan in 2010, Mr. Jones said 23 airlines connected Erbil to 15 countries. The city had been serviced by an interim airport, constructed by the United States military on an airstrip originally laid out by Saddam Hussein for the 1980s war against Iran and for attacks during the Anfal, his period of repression when about 180,000 Kurds were killed.

    In 2010, a new terminal was opened, bringing the airport up to Western standards. Mr. Jones said, “When the new airport opened, it was like a slingshot” for air traffic in and out of Erbil. He said 947,600 passengers came through the airport in 2012, counting both domestic and international flights, a 53 percent increase over 2011.

    Mr. Jones said Erbil’s airport represented physical and symbolic change for the city. “The airport was at one time a means of oppression, because it was for Saddam’s forces,” he said, “but now, it is a site of liberation because it connects Kurdistan to the world.”

    With the expanding Kurdish economy, companies have struggled to recruit workers.

    “We find it hard to find skilled technicians,” said Hal Miran, 34, a Kurdistan native who was raised in Britain and returned in 2010. He is managing director of MSelect, the largest staffing company in Iraq, with headquarters in Erbil.

    “This is to be expected because of what the country went through,” he said. “Kurds were not allowed under Saddam to work in the oil industry, so these skills were not part of the culture.”

    Mr. Miran said that the most important sectors for his company were oil, construction and retail, and his clients included Exxon Mobil, Chevron, Standard Chartered, the French cement company LaFarge and other international companies.

    Even small entrepreneurs are finding opportunities. Julio Dumar, 40, a native of Colombia, came to Erbil in 1997, originally to work for a nongovernmental organization. Seeing an unserved niche, he started a coffee importing company in 2010.

    “I am from a coffee country and the best product we have in Colombia is coffee,” Mr. Dumar said. He works throughout Kurdistan and also in Basra in southern Iraq, but not in Baghdad. Erbil’s advantage, he said, is “security and safety.”

    “It’s easier to work from here, but because I speak Kurdish, I can manage to do paperwork for myself, and save thousands, maybe a couple of hundred, of dollars myself,” he said.

    Mr. Dumar added that “payments and bureaucracies can be difficult.”

    “The K.R.G. says it is easy, but it is just not that easy,” he said, referring to the Kurdish Regional Government, the governing body of the Kurdish region.

    Additionally, he said that while visas for businesspeople from Europe, the Middle East and North America were easy to apply for, they were more difficult for South Americans, even as Venezuelans arrive to work for the oil industry. For stays under 14 days, travelers from the United States, Canada and most of Europe receive visas at the Erbil airport, requiring no paperwork.

    For now, business travel seems healthy despite the recent attacks. Jeremy Oliver, 35, is a logistics and security consultant for ZSS, a division of the Zagros Group, who has lived in Erbil since 2009 after previously living in Baghdad. Mr. Oliver, a Texas native, said that since the bombing, “the climate hasn’t changed for the big oil companies.”

    “They increased their security,” he said, which he indicated had helped his company.

    “You can either ignore it or look it in the eye and deal with it; people here are intolerant of this kind of thing,” Mr. Oliver added. Through roadblocks and an intense manhunt, Mr. Oliver said, the K.R.G. had arrested three people suspected in the bombing and showed their images on television. “Everybody feels safe again. For the most part everything has gone back to normal,” he said.

    http://www.nytimes.com/2013/10/15/business/international/in-northern-iraq-a-thriving-economy-and-a-changing-landscape.html?hpw
    Image
    October 15, 2013 9:31 am
    Osborne positions London as renminbi hub
    By Lucy Hornby in Beijing

    UK Chancellor George Osborne on Tuesday moved to cement London’s position as a global trading hub for the Chinese currency, announcing new investment quotas, foreign exchange trading and relaxed requirements for Chinese banks doing business in the city.

    The two countries also agreed to allow direct renminbi-sterling trading in Shanghai and offshore, making the pound the fourth currency to trade directly against the renminbi, while Chinese banks will be permitted to set up branches in London.

    The greater scope for financial services and a separate memorandum of understanding that opens the UK to Chinese nuclear power investment mark what both sides are billing as a new step in relations after a recent diplomatic chill.

    That positions London to profit from China’s growing integration with the global economy. China has been taking steps to open its currency and gain greater prominence in the international financial system, while attempting to minimise the destabilising effects of hot money flows.

    Chief among the concessions is a quota for UK-based financial institutions to invest up to Rmb80bn (£8.2bn) in Chinese securities, a move that Osborne said would help Britain’s financial firms attract China-related investment flows.

    “The internationalisation of the renminbi and use of London as the pre-eminent centre outside of China and Hong Kong, all that business is a huge boon for British financial services, for Britain as a centre of global finance,” Mr Osborne told reporters at Beijing’s elegant Diaoyutai Guest House, after a morning of trade and investment talks with Ma Kai, the Chinese vice-premier.

    The Rmb80bn investment quota is an expansion of the Rmb270bn Renminbi Qualified Financial Institutional Investor programme, under which foreign investors holding the renminbi can invest it in Chinese stocks, bonds and money market instruments.

    Hong Kong remains the largest centre for this trade, a status it is unlikely to relinquish, said Zhu Guangyao, Chinese vice-finance minister.

    China has been keen to use the RQFII scheme, along with a similar programme denominated in US dollars, to encourage more foreign involvement in the country’s equity and credit markets.

    Overseas funds account for less than 2 per cent of Chinese equity markets, which have declined in recent years from an October 2007 peak. Individual institutions still need to apply for a licence to invest.

    The two countries also agreed to allow direct renminbi-sterling trading in Shanghai and offshore, making the pound the fourth currency to trade directly against the Chinese currency after the US dollar, the yen and Australian dollar.

    London sees about $5bn of daily renminbi trading, compared with $12bn in Hong Kong, according to HSBC.

    There was no timetable given for the launch of renminbi-sterling trade.

    Chinese banks received the right to open wholesale branches rather than subsidiaries in the UK, a distinction that allows them to use their parent banks’ financial standing to meet local capitalisation and reserve requirements.

    Banks from other main economies already have that right, although conditions have tightened since the Icelandic banking crisis ensnared British depositors.

    Mr Osborne’s visit is a prelude to a trip by Prime Minister David Cameron that is expected this year, which follows diplomatic rebuffs from the Chinese side after Cameron met with exiled Tibetan spiritual leader Dalai Lama, who China’s Communist rulers believe supports Tibetan independence.

    China’s interest in Britain – both state and private – has continued to flow in spite of the diplomatic chill, with the UK being the fourth-largest destination for Chinese foreign investment in 2012.

    “Frankly speaking, Sino-British relations were damaged because Prime Minister Cameron met with Dalai,” said Mr Zhu, referring to the Dalai Lama.

    “While China clearly expressed its political stance and at the same time resolutely safeguarded its core interests, we were not willing to see Sino-British economic relations damaged.”

    Nor have they been. Mr Osborne and Boris Johnson, London’s mayor who is also touring China this week, have both touted Chinese investment into British property projects such as a logistics, warehousing, shopping and business park next to Manchester airport, valued at £800m.

    The airport is pinning its plans on the prospect of increased traffic from Asia, a hope bolstered by the British decision to relax visa procedures for Chinese tourists and business travellers.

    The nuclear accord, which welcomes investment by Chinese nuclear companies without specifying which one, lays the ground for China General Nuclear Power Corp to enter the Hinkley Point nuclear power project alongside France’s EdF, its long-term partner in China.

    http://www.ft.com/intl/cms/s/0/9579f608-356e-11e3-b539-00144feab7de.html#axzz2hn6k4Dd0


    CORRECTED-UPDATE 2-China, UK deal pushes London as next offshore yuan centre after HK

    Tue Oct 15, 2013 6:19am EDT
    (Corrects size of ECB swap deal in paragraph 9 to 350 billion yuan)

    Oct 15 (Reuters) - China will give London-based investors the right to buy up to 80 billion yuan ($13.1 billion) worth of mainland stocks, bonds and money market instruments, boosting the city's efforts to be the next offshore yuan trading centre after Hong Kong.

    The agreement, announced by Britain and China in a joint statement on Tuesday, falls under the Renminbi Qualified Foreign Institutional Investor plan, or the RQFII.

    This is the first time the RQFII has expanded outside Hong Kong to give investors more avenues to invest yuan and more incentives to hold the currency - an outcome desired by China which wants to turn the renminbi into a widely-traded currency some day.

    In return for the RQFII, the British government agreed to start talks to allow Chinese banks to set up wholesale branches in the United Kingdom, the two governments said, reducing regulatory hurdles for Chinese banks expanding in Britain.

    "The renminbi will now have a firmer footprint in the European market," ANZ analysts said in a note.

    "With the increasing presence of Chinese banks in London, the granting of the RQFII license will strengthen and widen the platform for London to develop the offshore RMB (renminbi) bond market."

    Frances Cheung, a strategist at Credit Agricole CIB in Hong Kong said the amount granted under RQFII was substantial, underlining London as an important partner when it comes to RMB liberalisation.

    "This, together with FX swap arrangement in Europe shows that China is trying to reach more parts of the world," Cheung said.

    China last week also signed a 350 billion yuan swap agreement with the European Central Bank in the second-largest of such deals to date.

    Under Tuesday's agreement, London and Beijing will also allow the yuan to be traded against sterling directly, as opposed to going through the dollar, thereby markedly reducing transaction costs.

    A handful of countries including Singapore, Frankfurt, Taiwan and Kenya are vying for Beijing's approval to be a designated centre for clearing yuan trades outside of China in the hope of offering what may be a lucrative financial service. But Chinese analysts have said London is a natural choice given it is as a major centre for global currency trades.

    Started in 2011 as a way of enticing investors to hold the yuan, the RQFII now has a global quota of 350 billion yuan, of which 134 billion yuan is utilised.

    "Today we agreed the next big step in making London a major global centre for trading and now investing the Chinese currency," said UK Chancellor George Osborne, who is in Beijing.

    Tuesday's agreement comes after Britain and China agreed to set up a currency swap line of up to 200 billion yuan in July in a move aimed at boosting trade and financial stability.

    Trades in the yuan have ballooned in London, with import and export financing doubling to 33.6 billion pounds ($53.8 billion) from 2011.

    Data from financial services provider SWIFT shows London accounts for 62 percent of yuan trades outside China and Hong Kong. ($1 = 6.1079 Chinese yuan) ($1 = 0.6244 British pounds) (Reporting by Koh Gui Qing in Beijing and Saikat Chaterjee in Hong Kong; Editing by Raju Gopalakrishnan)

    http://www.reuters.com/article/2013/10/15/china-uk-rqfii-idUSL3N0I517U20131015


    HIGHLIGHTS-IMF, World Bank, G20 meetings in Washington

    WASHINGTON, Oct 11 (Reuters) - The following are comments on Friday from
    finance officials in Washington for the fall meetings of the International
    Monetary Fund and World Bank, and a meeting of Group of 20 leaders.



    ECB GOVERNING COUNCIL MEMBER JENS WEIDMANN
    "In the last few days the U.S. government shutdown has been at the center of
    discussions. The economic effects should be limited ... but the dampening impact
    on growth increases with the time the shutdown lasts."
    "I don't think it's a realistic scenario (that the debt ceiling will not be
    raised). I think one can trust that now, as in the past, the political
    (opponents) will manage to unite on a solution."

    CANADIAN FINANCE MINISTER JIM FLAHERTY
    "The G20 was supposed to be the premier economic policy forum in the world.
    Our first meeting with the leaders was here in Washington in November 2008, chaired by President Bush, and was a very focused, directed meeting about what needed to be done to solve significant global economic problems." "I think we have drifted a bit from that focus and that's one of the things
    we were talking about at our meetings. How it will all work out, we'll see. I
    hope that we were persuasive."


    BRITISH FINANCE MINISTER GEORGE OSBORNE
    ON MONETARY POLICY:
    "Accommodative monetary policy in the U.S., the UK and elsewhere is helping
    support growth, and growth in places like America is incredibly important for
    the whole world, including the emerging economies of the world. ....We should
    recognize the fact that there are spillovers from that monetary policy and you
    shouldn't pretend they don't exist. They do exist. And we should help emerging
    economies deal with those spillovers....That said, those spillovers should not
    be an excuse for emerging economies to avoid doing what they need to do in terms
    of structural reforms to improve their economy."

    ON HOW THESE MEETINGS ARE DIFFERENT FROM THOSE IN THE PAST:
    "There's much more focus here on the challenge in emerging economies than
    there has been certainly in any of the meetings I have attended in the 3-1/2
    years I have been doing this job. The focus has sort of moved away from the
    advanced economies."

    JAPANESE FINANCE MINISTER TARO ASO
    "With regard to the debt ceiling issue ... Japan expects this issue to be
    resolved once and for all without any delay. It's not only a matter for the
    U.S."

    RUSSIAN FINANCE MINISTER ANTON SILUANOV AFTER G20 MEETING
    ON U.S. DEBT STANDOFF:
    "We wish for this crisis to be resolved as soon as possible... We hope for a
    speedy resolution."
    "Our American colleagues are doing everything possible in order to find a
    mutual understanding or agreement with the Congress."
    "We trust that the administration and the Congress will arrive at a mutually
    acceptable solution."
    ON HOW G20 WORKS:
    "It's not a place where some people give advice and some people take advice.
    ... What we do is coordinate and exchange opinions, and each country makes its
    own decisions based on the policies of the other countries."
    ON RUSSIA'S FOREIGN RESERVES, U.S. DEBT STANDOFF
    "I believe at this point there is no need to adjust the strategy of
    investing our foreign reserves. I believe what is happening today is rather a
    short-term situation, so our investment in U.S. securities, in U.S. Treasuries,
    they are a long-term investment... U.S. Treasuries, U.S. securities, have one of
    the highest ratings. We invest in securities that meet all the reliability
    criteria. These are reliable securities, and we do not plan any serious changes
    in this policy."

    MALAYSIAN CENTRAL BANK GOVERNOR ZETI AKHTAR AZIZ:
    "In Malaysia, we received these massive surges of inflows after QE 1, 2 and
    3...then when the tapering is discussed, 20 percent of the inflow that took
    place over the three years has already flowed out."
    "Economies in Asia are very well positioned to cope with these
    developments," she said, citing reforms since the Asian financial crisis.

    ECB'S EWALD NOWOTNY
    ON PROSPECTS OF AN AGREEMENT ON U.S. BUDGET:
    "Whatever reduces uncertainty is positive but I think that really to reduce
    uncertainty in a substantial way we would need a long-term solution. Still, it
    seems to be better than nothing."
    ON EURO STRENGTH:
    "But still we have to look at these developments because on the one hand it
    might have negative effects on export performance and therefore economic
    performance especially of southern member countries of the euro zone."
    ON MONETARY POLICY IN THE EURO ZONE:
    "We see that inflation expectations are well anchored."
    Our forward guidance has been that we don't have an intention to increase
    rates; that does not exclude a decrease in interest rates, "but for the time
    being I don't see any acute need for changes."

    ECB'S MARIO DRAGHI IN STATEMENT PREPARED FOR SATURDAY IMFC MEETING
    "With regard to money market conditions, the ECB will remain particularly
    attentive to developments which may have implications for the stance of monetary
    policy and is ready to consider all available instruments."
    "We will remain attentive to all developments that influence an adequate
    transmission of monetary policy to the financing conditions in euro area
    countries."

    RUSSIAN FINANCE MINISTER ANTON SILUANOV
    ON G20 COMMUNIQUE:
    "There will be a general wish for a fast solution of the problem. There will
    be a couple of propositions - that we are of course, concerned and that we wish
    for a speedy resolution of the situation."
    "Colleagues from the U.S. Treasury and the Federal Reserve have said that
    they hope to solve the issue soon. They said that the problem will be solved by
    (Oct.) 17."
    "It's an important issue for everyone. Both Lew and Bernanke believe that
    these difficulties can be overcome soon."
    "He also said that the communique will have two pages and that most of the
    phrasing will be the same as the final document adopted by the G20 leaders at
    their summit in St. Petersburg in September...very little time has passed
    since."
    "We wait and we wish our colleagues a fast resolution of the issue, since
    the emerging trends of growth in America are the engine for other countries. So
    if the uncertainty continues, the growth rate will slow down. This does not
    benefit anyone."

    DIRECTOR OF THE INTERNATIONAL MONETARY FUND'S EUROPEAN DEPARTMENT REZA
    MOGHADAM
    ON PROGRESS IN GREECE:
    "The fact that Greece is expected to run a primary surplus, this is an
    impressive achievement. If you look at structural reforms, they are impressive.
    What we have seen in the last year, 18 months, is Greece trying to live up to
    the commitments of the program. But given the magnitude of the problem, these
    are still early days and there is a long way to go."

    IMF ASIA-PACIFIC DIRECTOR ANOOP SINGH
    ON ASIAN ECONOMIES:
    "In many countries in Asia, financial imbalances are building up. In many
    countries in Asia, financial policies are too accommodative. And therefore for
    at least six or 12 months, we've been pointing out that these conditions need to
    normalize."
    "I must emphasize that in many ways Japan remains a bright spot in the
    region. From the numbers and from the surveys, it is clear that what is now
    called 'Abenomics' is reigniting the economy and is starting the process to lift the country out of chronic deflation."
    http://www.reuters.com/article/2013/10/12/imf-idUSL1N0I10OG20131012




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    2013 IIF Annual Membership Meeting
    October 11-12, 2013
    Washington, DC

    Learn More:

    The 2013 IIF Annual Membership Meeting has now concluded. This two-day meeting discussed key issues in the global economy, including the macro outlook and prospects ahead for the global economy, quantitative easing, resolution and recovery, the future of finance, financial inclusion, and breakout sessions on regional issues. Session videos will be available in the coming days.

    http://www.iif.com/

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    This event had 18 sponsors.... and one of them was Wells Fargo.
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    Central Banks Gaming Out U.S. Default as Deadline Nears 10/15/13

    Post by Admin on Sat Oct 19, 2013 1:01 am

    Central Banks Gaming Out U.S. Default as Deadline Nears
    By Simon Kennedy, Jeff Black & Jennifer Ryan - Oct 14, 2013 5:01 PM MT

    Central banks have begun making contingency plans on how they would keep financial markets working if the U.S. defaults on the world’s benchmark debt.
    Policy makers discussed possible responses when they met at the International Monetary Fund’s annual meetings in Washington over the weekend, said officials who spoke on condition of anonymity because the talks were confidential. The discussions continued as policy makers headed home.
    Enlarge image Central Banks Begin Gaming Out U.S. Default as Deadline Ne
    IMF Managing Director Christine Lagarde speaks at the Development Committee meeting on October 12, 2013 in Washington, DC. Photographer: Stephen Jaffe/IMF via Getty Images
    U.S. Debt Impasse Seen `Freaking Out' Corporations4:29
    Oct. 15 (Bloomberg) -- Jason Schenker, president of Prestige Economics LLC, talks about the impact of the U.S. political gridlock over the debt ceiling and the government shutdown on the domestic economy. He speaks with Susan Li on Bloomberg Television's "First Up." (Source: Bloomberg)
    Audio Download: Roubini Says U.S. Creditors Concerned About Impasse
    “Because in the past it’s always been sorted out is absolutely not a reason to fail to do the contingency planning,” Jon Cunliffe, who joins the Bank of England as deputy governor for financial stability next month, told U.K. lawmakers yesterday. “I would expect the Bank of England to be planning for it. I’d expect private-sector actors to be doing that, and in other countries as well.”
    The initial response from the world’s central banks would likely echo their actions after the collapse of Lehman Brothers Holdings Inc. in 2008. Back then, policy makers pledged they would provide ample liquidity, eased the collateral they lent against and boosted dollar swap lines with each other to ensure supply of the currency.
    The $12 trillion of outstanding U.S. government debt is 23 times the $517 billion Lehman owed when it filed for bankruptcy on Sept. 15, 2008.
    Time Short
    “The bank has at its fingertips a range of tools to ensure the system operates properly, that liquidity conditions remain normal in all sorts of eventualities,” Bank of Canada Governor Stephen Poloz told reporters in Washington on Oct. 11. He declined to talk about specifics.
    Central bankers would have had a chance to discuss the threat of default when U.S. Federal Reserve Chairman Ben S. Bernanke hosted a lunch of counterparts on Oct. 12 during the IMF meetings.
    Time is running short for U.S. lawmakers as they try to end a stalemate that risks pushing the nation into default if the government’s borrowing authority isn’t raised before Oct. 17. Senate Democratic and Republican leaders were working yesterday on the details of an accord that would prevent the nation from breaching the debt ceiling and end a partial government shutdown now entering its 15th day.
    “We’ve made tremendous progress,” Senate Majority Leader Harry Reid, a Nevada Democrat, said yesterday as the chamber adjourned, adding that he hoped a deal could be announced as soon as today. His Republican counterpart, Senator Mitch McConnell of Kentucky, said there was “substantial progress.”
    ‘Main Benchmark’
    While policy makers from Japan to Saudi Arabia have expressed faith in the ability of the U.S. to pay its bills, a default would put the world in uncharted territory.
    Central bankers have spent the past six years expanding their toolkit for dealing with a financial crisis that began in August 2007 when tremors in the U.S. subprime mortgage market began reverberating worldwide. That turmoil deepened with the Lehman failure and was then extended by Europe’s fiscal woes.

    “You want the plumbing of the financial sector to keep working even with the main benchmark in default,” said Rob Wood, an economist at Berenberg Bank in London and a former official at the Bank of England. “You want to avoid a firesale of U.S. assets.”
    The Fed opened what eventually became 14 swap lines in December 2007 to provide the global financial system with dollar liquidity as the subprime mortgage crisis stirred doubts about the quality of assets on bank balance sheets around the world. They were boosted as markets froze the following year.
    Lines Extended
    The swaps were closed in February 2010 and re-opened three months later amid a squeeze in dollar funding due to the euro area debt crisis. Last December, the Fed extended the lines with the Bank of Canada, Bank of England, the European Central Bank and the Swiss National Bank until February 2014. The swaps allow the central banks to borrow in dollars from the Fed and then auction them at home.
    With less room to cut interest rates now than in 2008, when major central banks did so in unison, a U.S. default would prompt officials to first focus on pumping cash into the financial system, said Stewart Robertson, an economist at Aviva Investors Ltd in London, which has about $438 billion under management.
    “There are other measures they can take, such as easing liquidity strains,” Robertson said. “They might actually find that easier than after Lehman. At that time there was really a worry about who was holding billions and trillions of toxic waste. With this, you know more what’s happening.”
    Hold Back
    While they could utilize swap lines and keep accepting Treasuries as collateral, central banks would probably hold back on easing monetary policy because they would bet the U.S. would quickly end the default once markets turned volatile and recession loomed, said Wood of Berenberg Bank.
    “It’s only if you think the default will be extended and politicians won’t react enough that you would engage in significant monetary policy,” he said. “Would you buy oodles more bonds if you expected lawmakers to act?”
    To be sure, not even the world’s most powerful central banks have the weapons to counter the potential fallout of even a so-called technical default, finance executives say.
    “It will be like putting band-aids on a gaping wound,” Deutsche Bank AG co-Chief Executive Officer Anshu Jain said at a panel discussion hosted by the Institute of International Finance in Washington on Oct. 12.
    ‘Irrevocable’ Aspects
    Jain said the bank’s analysis of the consequences of even a “technical default” found that “there are aspects to that which are irrevocable.”
    “Once you miss payment on U.S. Treasury debt, we don’t want to go into all of it but I’ll give you a little taste,” said Jain. “Things like tri-party repo, the underpinning of the collateral system, there are legal ramifications which we believe are probably incurable.”
    JPMorgan Chase & Co. CEO Jamie Dimon said at the same event that his bank has calculated it probably processes about six or seven billion dollars a week in benefits such as Social Security, food stamps and veterans benefits. “We were going to fund it, despite the fact that we weren’t being paid by the government, because those people have to eat,” Dimon said.
    A default, however, would be tougher to prepare for, he said.“You don’t know the effect and the ripple effect of that through money market funds, people start drawing down revolvers, people don’t know if collateral is good,” he said. “We can’t have a debt default.”
    For those reasons, global financial policy makers maintain that a default is unlikely.
    “It’s unthinkable that an agreement won’t be found,” European Central Bank President Mario Draghi told reporters in Washington. Japanese Finance Minister Taro Aso told Bloomberg Television’s Sara Eisen that “there’s no other way than for the U.S. government itself and the U.S. Congress to sort it out.”http://www.bloomberg.com/news/2013-10-14/central-banks-begin-gaming-out-u-s-default-as-deadline-nears.html
    To contact the reporters on this story: Simon Kennedy in London at skennedy4@bloomberg.net; Jeff Black in Washington at jblack25@bloomberg.net; Jennifer Ryan in London at jryan13@bloomberg.net







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